EUR/JPY Daily Outlook

Daily Pivots: (S1) 147.46; (P) 147.96; (R1) 148.81; More….

Intraday bias in EUR/JPY remains on the upside at this point, with focus on 148.38 resistance. Decisive break there will resume larger up trend, and next target will be 149.76 long term resistance. For now, outlook will remain bullish as long as 146.39 support holds, in case of retreat.

In the bigger picture, as long as 55 W EMA (now at 140.70) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance (2014 high). Decisive break there will resume long term up trend from 94.11 (2012 low). Next target is 61.8% projection of 124.37 to 148.38 from 138.81 at 153.64.

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