Daily Pivots: (S1) 160.32; (P) 160.65; (R1) 161.17; More….
Break of 160.84 resistance indicates resumption of larger up trend in EUR/JPY. Intraday bias is back on the upside for 163.06 projection level next. On the downside, break of 160.17 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 139.05 at 163.06. On the downside, break of 154.32 support is needed to be the first sign of medium term topping. Otherwise, outlook will remain bullish even in case of deep pullback.
