EUR/JPY Intraday Analysis
For the moment, the Intraday Analysis for EUR/JPY showcases a leaning toward the upside. The ongoing ascent targets a 61.8% projection from 139.08 to 158.02, with an endpoint of around 163.12. Conversely, should the pair dip below the 157.76 minor support, it would usher in a period of consolidation, neutralizing the current bias.
Currently, our Daily Analysis reflects that the surge originating from 114.45 (the low of 2020) is continuing its momentum. The next pivotal target resides at the 100% projection, stretching from 124.40 to 148.41, culminating at approximately 163.09. A robust breakthrough at this juncture could potentially lead to challenging the long-term resistance situated at 170.29. As of now, even if a significant retracement occurs, our optimistic view will persist as long as the support at 151.42 remains unbreached.
Analysis Summary
EUR/JPY’s intraday outlook remains bullish, targeting 163.12. The broader view suggests a potential test of the 170.29 resistance, maintaining positivity as long as 151.42 holds firm.
Key Bullet Points:
- The intraday target for EUR/JPY: 163.12.
- Long-term resistance is in sight at 170.29.
- Key support level: 151.42.
