EUR/JPY’s fall from 187.93 resumed after brief consolidations. Intraday bias is back on the downside for 175.26/41 support. Strong support is expected from to complete the correction. On the upside, above 179.29 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 181.53 resistance holds, in case of recovery.
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 but strong support is expected there. However, decisive break will raise the chance of larger bearish reversal and target 61.8% retracement at 167.43.
