Daily Pivots: (S1) 183.13; (P) 183.70; (R1) 184.83; More…
Intraday bias in EUR/JPY stays mildly on the upside from 184.75 resistance. Firm break there will resume the whole rise from 180.78 and target a retest on 186.86 high. For now, risk will stay mildly on the upside a long as 182.02 support holds, in case of retreat.
In the bigger picture, a medium term top could be in place at 186.86 and some more consolidations would be seen. Nevertheless, as long as 55 W EMA (now at 175.61) holds, the larger up trend from 114.42 (2020 low) remains intact. Firm break of 186.86 will pave the way to 78.6% projection of 124.37 (2022 low) to 175.41 (2025 high) from 154.77 at 194.88 next.
