Every day Pivots: (S1) 138.28; (P) 139.28; (R1) 139.88; Extra….
EUR/JPY’s fall from 145.62 prolonged decrease immediately. Break of 138.38 help raises the possibility of bigger reversal. Intraday bias stays on the draw back for 133.38 help subsequent. On the upside, above 140.25 minor resistance will flip intraday bias impartial and produce consolidations first, earlier than staging one other decline.
Within the larger image, so long as 133.38 help holds, the up pattern from 114.42 (2020 low) might nonetheless prolong by way of 145.62 excessive. In that case, subsequent goal 149.76 (2015 excessive). Nonetheless, sustained break of 133.38 shall be an indication of medium time period bearish reversal and produce deeper fall to 124.37 help first.