Daily Pivots: (S1) 174.04; (P) 174.38; (R1) 174.80; More…
Intraday bias in EUR/JPY is back on the upside with break of 174.48 temporary top. Further rise should be seen to retest 175.41 high. Decisive break there will resume larger up trend. However, firm break of 173.45 will turn bias back to the downside for deeper pullback to 172.11 support instead.
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 (2022 low) to 175.41 from 154.77 (2025 low) 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.
