Day by day Pivots: (S1) 162.60; (P) 163.21; (R1) 164.21; Extra….
Intraday bias in EUR/JPY stays on the upside as current rally continues to be in progress. Subsequent close to time period goal is 61.8% projection of 139.05 to 159.75 from 154.32 at 167.11. On the draw back, beneath 163.23 minor help will flip intraday bias impartial and convey consolidations first, earlier than staging one other rally.
Within the greater image, rise from 114.42 (2020 low) is in progress. Subsequent goal is 169.96 (2008 excessive). On the draw back, break of 159.75 resistance turned help is required to be the primary signal of medium time period topping. In any other case, outlook will stay bullish even in case of deep pullback.
