Daily Pivots: (S1) 153.85; (P) 154.62; (R1) 155.18; More….
EUR/JPY is still bounded in consolidation below 155.37 temporary top and intraday bias stays neutral. Downside of retreat should be contained above 151.60 resistance turned support to bring another rally. Break of 155.37 will resume larger up trend to 100% projection of 139.05 to 151.60 from 146.12 at 158.67.
In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 100% projection of 124.37 to 148.38 from 138.81 at 162.82. For now, medium term outlook will remain bullish as long as 148.38 resistance turned support holds, even in case of deep pull back.
