Daily Pivots: (S1) 159.49; (P) 159.82; (R1) 160.40; More…
EUR/JPY’s rally from 153.15 resumed by breaking through 160.17 temporary top. Intraday bias is back on the upside. Further rally should be seen to 161.8% projection of 153.15 to 158.55 from 155.06 at 163.79, which is close to 164.29high). ON the downside, below 159.30 minor support will turn intraday bias neutral first. But further rally is expected as long as 158.55 resistance turned support holds.
In the bigger picture, price actions from 164.29 medium term top are tentatively seen as a correction to rise from 139.05 for now. As long as 148.48 resistance turned support holds (2022 high), larger up trend from 114.42 (2020 low) could still resume through 164.29 at a later stage.
. ON the downside, below 159.30 minor support will turn intraday bias neutral first. But further rally is expected as long as 158.55 resistance turned support holds.){kind=link}