Intraday bias in EUR/JPY remains neutral and outlook is unchanged. In case of another fall, strong support is expected from 175.26/41 to bring rebound. On the upside, firm break of 178.32 resistance will indicate short term bottoming, and turn bias to the upside for 181.53 resistance next. However, decisive break of 175.26/41 will carry larger bearish implications.
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.
