Daily Pivots: (S1) 137.25; (P) 141.54; (R1) 144.28; More….
Intraday bias in EUR/JPY remains neutral for the moment. Firm break of 100% projection of 148.38 to 140.75 from 146.71 at 139.08 will pave the way to 161.8% projection at 134.36. On the upside, above 141.60 minor resistance will turn intraday bias neutral first.
In the bigger picture, as long as 55 week EMA (now at 138.54) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance. However, firm break of 55 week EMA will bring deeper fall to 38.2% retracement of 114.42 to 148.38 at 135.40 before completing the correction from 148.38.
