EUR/JPY Daily Outlook

Daily Pivots: (S1) 156.02; (P) 156.57; (R1) 157.01; More..

Intraday bias in EUR/JPY remains neutral at this point. On the upside, above 158.55 will resume the rebound from 153.15 through 55 D EMA (now at 158.82). On the downside, break of 153.15 will resume whole fall from 164.39 to 61.8% retracement of 139.05 to 164.29 at 148.69.

In the bigger picture, price actions from 164.29 medium term top are tentatively seen as a correction to rise from 139.05 for now. As long as 148.48 resistance turned support holds (2022 high), larger up trend from 114.42 (2020 low) could still resume through 164.29 at a later stage.

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