Daily Pivots: (S1) 152.22; (P) 152.95; (R1) 154.29; More….
EUR/JPY accelerates to as high as 154.63 so far today. There is no sign of topping after breaking 153.63 medium term projection level. Intraday bias stays on the upside for 100% projection of 139.05 to 151.60 from 146.12 at 158.67. On the downside, below 153.08 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.
In the bigger picture, rise from 114.42 (2020 low) is in progress. 61.8% projection of 124.37 to 148.38 from 138.81 at 153.64 is already met but there in no sign of topping. Further rally should be seen to 100% projection at 162.82 next. For now, medium term outlook will remain bullish as long as 148.38 resistance turned support holds, even in case of deep pull back.
