Daily Pivots: (S1) 158.31; (P) 159.07; (R1) 159.61; More…
Intraday bias in EUR/JPY stays neutral at this point. Outlook is unchanged that sideway pattern from 154.40 is still extending with another upleg. On the upside, above 161.17 will target 164.07 resistance and then 164.89.
In the bigger picture, price actions from 175.41 are seen as correction to rally from 114.42 (2020 low). Strong support should be seen from 38.2% retracement of 114.42 to 175.41 at 152.11 to contain downside. However, sustained break of 152.11 will bring deeper fall even still as a correction.
