EUR/JPY Daily Outlook – Action Forex

Each day Pivots: (S1) 162.52; (P) 163.49; (R1) 165.18; More…

EUR/JPY’s break of 164.16 signifies resumption of complete rise from 154.77. Intraday bias is now on the upside for 100% projection of 154.77 to 164.16 from 158.27 at 167.66. For now, additional rally will stay in favor so long as 161.68 help holds, in case of retreat.

Within the greater image, worth actions from 175.41 are seen as correction to rally from 114.42 (2020 low). Robust help ought to be seen from 38.2% retracement of 114.42 to 175.41 at 152.11 to comprise draw back. Nevertheless, sustained break of 152.11 will convey deeper fall even nonetheless as a correction.