Daily Pivots: (S1) 155.92; (P) 156.33; (R1) 156.90; More….
EUR/JPY’s rally resumed after brief consolidations and intraday bias is back on the upside. Current up trend should target 100% projection of 139.05 to 151.60 from 146.12 at 158.67. On the downside, break of 155.74 minor support will turn intraday bias neutral and bring consolidations first, before staging another rise.
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 151.60 resistance turned support holds, even in case of deep pull back.
