Sat, Jun 10, 2023 @ 22:37 GMT

EUR/JPY Daily Outlook

Daily Pivots: (S1) 146.49; (P) 146.82; (R1) 147.40; More….

Intraday bias in EUR/JPY remains on the upside as rise from 137.37 is in progress for retesting 148.38 high. Firm break there will resume larger up trend to 149.75 long term resistance. On the downside, below 146.06 minor support will turn intraday bias neutral and bring consolidations. But outlook will stay cautiously bullish as long as 142.53 support holds, in case of retreat.

In the bigger picture, as long as 55 W EMA (now at 140.44) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance. Decisive break there will resume long term up trend. However, sustained break of 55 W EMA will bring deeper fall to 38.2% retracement of 114.42 to 148.38 at 135.40.

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