Daily Pivots: (S1) 161.30; (P) 161.86; (R1) 162.48; More….
Intraday bias in EUR/JPY is back on the upside with break of 162.42 minor resistance. Retest of 164.29 resistance should be seen next. Firm break there will resume larger up trend. On the downside, though, below 161.22 will resume the fall from 164.29 to 159.75 resistance turned support.
In the bigger picture, rise from 114.42 (2020 low) is in progress. Next target is 169.96 (2008 high). On the downside, break of 159.75 resistance turned support is needed to be the first sign of medium term topping. Otherwise, outlook will remain bullish even in case of deep pullback.
