Daily Pivots: (S1) 159.12; (P) 159.43; (R1) 159.94; More…
Intraday bias in EUR/JPY is back on the upside with break of 160.25 minor resistance. Further rise should be seen to 161.84 resistance first. Firm break there will target 164.29 high. For now, further rally is expected as long as 158.06 support holds, in case of recovery.
In the bigger picture, price actions from 164.29 medium term top are seen as a correction to rise from 139.05 only. As long as 148.38 resistance turned support holds (2022 high), larger up trend from 114.42 (2020 low) is expected to resume through 164.29 at a later stage.
