Daily Pivots: (S1) 143.57; (P) 143.97; (R1) 144.68; More….
Intraday bias in EUR/JPY remains neutral and outlook is unchanged. Further decline could be seen as long as 146.12 resistance holds. Break of 140.75 will resume the fall from 148.38. However, break of 146.12 resistance will indicate that correction from 148.38 has completed. Bias will be back on the upside for retesting 148.38.
In the bigger picture, considering bearish divergence condition in weekly MACD, 148.38 could be a medium term top already. Fall from there is probably correcting whole up trend from 114.42 (2020 low). Deeper decline would be seen to 55 week EMA (now at 137.37), or further to 38.2% retracement of 114.42 to 148.38 at 135.40 before completion.
