Thu, Jan 26, 2023 @ 22:31 GMT

EUR/JPY Daily Outlook

Daily Pivots: (S1) 140.58; (P) 141.12; (R1) 141.89; More….

Intraday bias in EUR/JPY remains neutral with focus on 141.60 minor resistance. Firm break there will bring stronger rebound to 55 day EMA (now at 143.38). On the downside, break of 138.79 will resume the decline from 148.38 to 161.8% projection of 148.38 to 140.75 from 146.71 at 134.36.

EUR/JPY 4 Hours Chart

EUR/JPY Daily Chart

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.

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