Every day Pivots: (S1) 166.28; (P) 166.68; (R1) 167.42; Extra…
Intraday bias in EUR/JPY stays on the upside as current up development continues. Subsequent goal is 168.72 projection stage. On the draw back, beneath 166.66 minor assist will flip intraday bias impartial and convey consolidations first, earlier than staging one other rally.
Within the greater image, present rally is a part of the up development from 114.42 (2020 low), which continues to be in progress. Subsequent goal is 61.8% projection of 139.05 to 164.29 from 153.15 at 168.72, and even additional to 169.96 (2008 excessive). Break of 162.26 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.
