Daily Pivots: (S1) 154.21; (P) 154.67; (R1) 155.45; More….
Intraday bias in EUR/JPY remains neutral for the moment. Further decline is in favor as long as 155.66 minor resistance holds. Below 153.32 will target 55 D EMA (now at 152.36) and below. Nevertheless, above 155.66 will turn bias back to the upside for retesting 157.99 high instead.
In the bigger picture, as long as 151.60 resistance turned support holds, rise from 114.42 (2020 low) is in progress. On resumption, next target is 100% projection of 124.37 to 148.38 from 138.81 at 162.82. Nevertheless, sustained break of 151.60 will argue that larger correction is already underway.
 and below. Nevertheless, above 155.66 will turn bias back to the upside for retesting 157.99 high instead.){kind=link}