Daily Pivots: (S1) 157.99; (P) 158.60; (R1) 159.56; More….
Intraday bias in EUR/JPY stays on the upside for the moment. Current up trend is in progress for 61.8% projection of 139.05 to 157.99 from 151.39 at 163.09 next. On the downside, below 157.73 minor support will turn intraday bias neutral and bring consolidations again first.
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 139.05 at 163.06. Sustained break there will pave the way to retest long term resistance at 169.96. This will now remain the favored case as long as 151.39 support holds, even in case of deep pull back.
