Daily Pivots: (S1) 183.96; (P) 184.31; (R1) 184.88; More…
EUR/JPY’s up trend resumed by breaking through 184.89 and intraday bias is back on the upside. Next target is 186.31 fibonacci level. Firm break there will pave the way to 138.2% projection of 151.06 to 173.87 from 172.24 at 189.94. For now, outlook will remain bullish as long as 182.60 support holds, in case of retreat.
In the bigger picture, up trend from 114.42 (2020 low) is in progress and should target 61.8% projection of 124.37 (2021 low) to 175.41 (2024 high) from 154.77 (2025 low) at 186.31. Firm break there will target 78.6% projection at 194.88. Outlook will remain bullish as long as 175.41 resistance turned support holds, even in case of deep pullback.
