Day by day Pivots: (S1) 161.57; (P) 162.56; (R1) 163.35; Extra….
Intraday bias in EUR/JPY is now on the draw back as fall from 164.92 extends. Deeper decline could be seen, however draw back ought to be contained effectively above 159.75 resistance turned help to deliver one other rally. On the upside, above 162.42 minor resistance will deliver retest of 164.29. Agency break there’ll resume bigger up development.
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.
