Wed, Dec 07, 2022 @ 14:25 GMT

EUR/JPY Daily Outlook

Daily Pivots: (S1) 144.45; (P) 145.30; (R1) 145.95; More….

Intraday bias in EUR/JPY stays neutral for the moment. On the downside, break of 144.32 minor support will extend the corrective pattern from 148.38 with another fall. Intraday bias will be back on the downside for 142.54 support first. On the upside, break of 147.09 will indicate that larger up trend is ready to resume through 148.38 high.

In the bigger picture, there is no clear sign of medium term topping yet. Up trend from 114.42 (2020 low) could still resume through 148.38 to 149.76 (2014 high). However, break of 137.32 support argue that a medium term correction has already started to correct the whole up trend from 114.42.

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