Each day Pivots: (S1) 163.51; (P) 163.96; (R1) 164.85; Extra…
Breach of 164.40 resistance argues that EUR/JPY’s pull again from 165.33 has accomplished at 162.59 already. Intraday bias is again on the upside for retesting 165.33. Agency break there’ll resume bigger up development. For now, additional rally will stay in favor so long as 162.59 assist holds, in case of retreat.
Within the larger image, present rally is a part of the up development from 114.42 (2020 low), which remains to be in progress. Subsequent goal is 169.96 (2008 excessive). Break of 160.20 assist is required to be the primary signal of medium time period topping. In any other case, outlook will keep bullish in case of retreat.
