Intraday bias in EUR/JPY remains neutral at this point. Risk stays on mildly on the upside as long as 175.04 holds. Above 178.46 will resume the rise from 175.04 to 181.53 resistance next. However, sustained break of 175.26/41 will carry larger bearish implications and resume the whole fall from 187.93.
In the bigger picture, price action from 187.93 is seen as a corrective pattern to up trend from 154.77 (2025 low). Strong support should be seen from 175.41 cluster support (2025 high) and 38.2% retracement of 154.77 to 187.93 at 175.26 to contain downside. However, decisive break will raise the chance of larger bearish reversal and target 61.8% retracement at 167.43.
