Daily Pivots: (S1) 186.94; (P) 187.15; (R1) 187.40; More…
EUR/JPY is extending the consolidation pattern from 187.93 and intraday bias remains neutral. Another fall might be seen to 38.2% retracement of 182.56 to 187.93 at 185.87. On the upside, though, break of 187.93 will resume larger up trend.
In the bigger picture, up trend from 114.42 (2020 low) is in progress Next target is 78.6% projection of 124.37 (2022 low) to 175.41 (2025 high) from 154.77 at 194.88 next. For now, medium term outlook will stay bullish as long as 180.78 support holds, even in case of deeper pullback.
