Intraday bias in EUR/JPY is turned neutral first with current recovery. In case of another fall, strong support is expected from 175.26/41 to bring rebound. Considering bullish divergence condition in 4H MACD, firm break of 179.29 resistance will indicate short term bottoming, and turn bias to the upside for 181.53 resistance 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 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.
