Daily Pivots: (S1) 146.37; (P) 146.83; (R1) 147.43; More….
EUR/JPY is staying in consolidation from 147.24 and intraday bias remains neutral. Downside of retreat should be contained by 144.06 resistance turned support On the upside, break of 147.24 will resume larger up trend. Next target is 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance.
In the bigger picture, the up trend from 114.42 (2020 low) is still in progress for 149.75 (2014 high). Decisive break there will pave the way to 161.8% projection of 114.42 to 134.11 from 124.37 at 156.22. This will now remain the favored case as long as 137.32 support holds.
