Daily Pivots: (S1) 143.61; (P) 144.40; (R1) 145.14; More….
Intraday bias in EUR/JPY is back on the downside with break of 144.32 minor support. Corrective pattern from 148.38 is extending with another falling leg. Deeper decline would be seen to 142.54 support next. For now, risk will stay on the downside as long as 146.12 resistance holds, in case of recovery.
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.
