Daily Pivots: (S1) 173.19; (P) 173.52; (R1) 173.95; More…
Intraday bias in EUR/JPY is back on the upside with break of 173.87/88 resistance. Rise from 154.77 is resuming and should target a retest on 175.41 high. On the downside, below 173.07 minor support will turn intraday bias neutral again first.
In the bigger picture, current rally from 154.77 is still tentatively seen as resuming the larger up trend. Firm break of 175.41 (2024 high) will confirm and target 61.8% projection of 124.37 to 175.41 from 154.77 at 186.31. However, sustained break of 169.69 support will delay this bullish case, and probably extend the correction from 175.41 with another fall.
