Daily Pivots: (S1) 140.02; (P) 140.56; (R1) 141.63; More….
Intraday in EUR/JPY neutral with current recovery. On the upside, above 141.77 minor resistance will turn bias back to the upside for retesting 144.23. On the downside, below 139.37 will resume the fall from 144.23 to 55 day EMA (now at 137.16).
In the bigger picture, up trend from 114.42 (2020 low) is in progress. Such rise is seen as the third leg of the pattern from 109.30 (2016 low). Sustained trading above 100% projection of 114.42 to 134.11 from 124.37 at 144.06 will indicate upside acceleration and target 149.76 long term resistance (2014 high). In any case, outlook will now remain bullish as long as 132.63 support holds, in case of deep pull back.
