Every day Pivots: (S1) 164.23; (P) 164.79; (R1) 165.22; Extra…
Intraday bias in EUR/JPY is turned impartial first with present retreat. Some consolidations may very well be seen however draw back ought to be contained by 55 4H EMA (now at 163.19) to deliver one other rally. On the upside, break of 165.33 will resume bigger up development to 61.8% projection of 153.15 to 163.70 from 160.20 at 166.71.
Within the greater 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 help is required to be the primary signal of medium time period topping. In any other case, outlook will keep bullish in case of retreat.
