Daily Pivots: (S1) 181.00; (P) 181.50; (R1) 182.04; More…
Intraday bias in EUR/JPY is turned neutral first with current retreat, and some consolidations would be seen. But downside should be contained above 178.80 resistance turned support. On the upside, break of 181.98 will resume larger up trend to 100% projection of 161.06 to 173.87 from 171.09 at 183.90. Firm break there will target 186.31 projection level next.
In the bigger picture, up trend from 114.42 (2020 low) is in progress and should target 61.8% projection of 124.37 to 175.41 from 154.77 at 186.31. Outlook will continue to stay bullish as long as 55 W EMA (now at 169.00) holds, even in case of deep pullback.
