Daily Pivots: (S1) 155.38; (P) 156.26; (R1) 156.90; More….
Intraday bias in EUR/JPY is back on the downside with breach of 155.45 temporary low. Fall from 163.86 is resuming to retest 154.40 low. Firm break there will resume whole decline from 1785.41 to 153.15 support, and possibly further to 152.11 fibonacci level. On the upside, above 157.50 minor resistance will turn intraday bias neutral again.
In the bigger picture, price actions from 175.41 are seen as correction to rally from 114.42 (2020 low). The range of consolidation should have been set between 38.2% retracement of 114.42 to 175.41 at 152.11 and 175.41 high. However, decisive break of 152.11 would argue that deeper correction is underway.
