EUR/JPY’s rebound from 177.82 accelerated higher today. The development confirms short term bottoming at 177.82, on bullish divergence condition in 4H MACD. Intraday bias is back on the upside for 55 D EMA (now at 182.89). On the downside, below 179.73 minor support will turn intraday bias neutral again.
In the bigger picture, price actions from 187.93 are likely at least correcting whole up trend from 154.77 (2025 low). Deeper fall could be seen to 175.41 cluster support (2025 high) and 38.2% retracement of 154.77 to 187.93 at 175.26 before completion. For now, risk will stay on the downside as long as 186.00 resistance holds, in case of rebound.
. On the downside, below 179.73 minor support will turn intraday bias neutral again.){kind=link}