Day by day Pivots: (S1) 163.45; (P) 163.84; (R1) 164.60; Extra….
EUR/JPY’s rally continues at present and intraday bias stays on the upside. 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, under 163.05 minor assist will flip intraday bias impartial and produce consolidations first, earlier than staging one other rally.
Within the larger 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 assist 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.
