Daily Pivots: (S1) 137.55; (P) 138.97; (R1) 139.94; More….
Intraday bias in EUR/JPY stays on the downside for retesting 137.37 support first. Break there will resume whole decline from 148.38 to 135.40 fibonacci level next. On the upside, above 139.54 minor resistance will turn intraday bias neutral first. But outlook will stay bearish as long as 142.84 resistance holds.
In the bigger picture, as long as 55 week EMA (now at 138.64) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance. However, firm break of 55 week EMA will bring deeper fall to 38.2% retracement of 114.42 to 148.38 at 135.40. Sustained break there will raise the chance of trend reversal, and target 61.8% retracement at 127.39.
