EUR/JPY prolonged the consolidation from 153.15 final week and outlook is unchanged. Preliminary bias stays impartial this week first and additional decline is anticipated. On the draw back, break of 153.15 will resume complete fall from 164.39 to 61.8% retracement of 139.05 to 164.29 at 148.69.
Within the larger image, value actions from 164.29 medium time period prime are tentatively seen as a correction to rise from 139.05 for now. So long as 148.48 resistance turned assist holds (2022 excessive), bigger up development from 114.42 (2020 low) may nonetheless resume by 164.29 at a later stage.
In the long run image, rise from 109.03 (2016 low) is seen because the third leg of the entire up development from 94.11 (2012 low). Subsequent goal is 100% projection of 94.11 to 149.76 from 114.42 at 170.07 which is near 169.96 (2008 excessive). This may stay the favored case so long as 148.48 resistance turned assist holds.
