Daily Pivots: (S1) 149.98; (P) 150.53; (R1) 150.95; More….
EUR/JPY lost momentum after edging higher to 151.05 and intraday bias is turned neutral first. Above 151.05 will target 151.60 high. Firm break there will resume larger up trend to 153.64 projection level. On the downside, however, break of 148.83 will extend the corrective pattern from 151.60 with another falling leg, back towards 146.12 support.
In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 61.8% projection of 124.37 to 148.38 from 138.81 at 153.64. Sustained break there will pave the way to 100% projection at 162.82. For now, medium term outlook will remain bullish as long as 139.05 support holds, even in case of deep pull back.
