Daily Pivots: (S1) 165.56; (P) 166.16; (R1) 166.82; More…
Intraday bias in EUR/JPY is turned neutral with current retreat. Some consolidations could be seen but further rise is expected as long as 55 D EMA (now at 163.15) holds. Above 166.73 will resume the rise from 154.77 to 61.8% retracement of 175.41 to 154.77 at 167.38.
In the bigger picture, price actions from 175.41 are seen as correction to up trend from 114.42 (2020 low). Strong support should be seen from 38.2% retracement of 114.42 to 175.41 at 152.11 to contain downside. However, sustained break of 152.11 will bring deeper fall even still as a correction.
 holds. Above 166.73 will resume the rise from 154.77 to 61.8% retracement of 175.41 to 154.77 at 167.38.){kind=link}