Daily Pivots: (S1) 155.28; (P) 156.28; (R1) 157.45; More….
Intraday bias in EUR/JPY stays mildly on the upside for retesting 157.99/158.03 resistance. Decisive break there will resume larger up trend to 162.82 projection level next. On the downside, below 155.10 minor support will turn intraday bias neutral again. But outlook will remain bullish as long as 38.2% retracement of 139.05 to 157.99 at 150.77 holds, in case of another dip.
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. Deeper decline would be seen to 55 W EMA (now at 145.56).
