Every day Pivots: (S1) 164.55; (P) 164.82; (R1) 165.25; Extra…
EUR/JPY’s breach of 165.33 resistance argues that bigger up pattern is resuming. Intraday bias is again on the upside. Additional rally could be seen to 169.96 key resistance subsequent. Nonetheless, break of 164.39 minor help will flip intraday bias impartial once more first.
Within the greater image, present rally is a part of the up pattern 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.
