Intraday bias in EUR/JPY remains neutral for the moment. Risk of another rise remains as long as 177.82 holds. Firm break of 38.2% retracement of 187.93 to 181.68 will extend the rebound from 177.82 short term bottom. Next target is 61.8% retracement at 184.06 next.
In the bigger picture, price action from 187.93 is seen as a corrective pattern to up trend from 154.77 (2025 low). Deeper fall cannot be ruled out, towards 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.
