EUR/JPY Daily Outlook

Daily Pivots: (S1) 162.66; (P) 162.93; (R1) 163.18; More

Intraday bias in EUR/JPY remains neutral for the moment, and some more consolidations could be seen below 163.45. Downside of retreat should be contained by 55 4H EMA (now at 162.06) to bring another rally. On the upside, break of 163.45 will target 164.29 high.

In the bigger picture, price actions from 164.29 medium term top are seen as a correction to rise from 139.05 only. As long as 148.38 resistance turned support holds (2022 high), larger up trend from 114.42 (2020 low) is expected to resume through 164.29 at a later stage. Next target would be 169.96 (2008 high).

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