Daily Pivots: (S1) 154.68; (P) 155.05; (R1) 155.44; More….
EUR/JPY continues to lose upside momentum as seen in 4H MACD. But there is not clear sign of topping yet. Further rise is expected to 100% projection of 139.05 to 151.60 from 146.12 at 158.67. On the downside, though, below 153.67 minor support will turn intraday bias neutral and bring consolidations first, before staging another rise rally.
In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 100% projection of 124.37 to 148.38 from 138.81 at 162.82. For now, medium term outlook will remain bullish as long as 148.38 resistance turned support holds, even in case of deep pull back.
