EUR/JPY Daily Analysis
Intraday bias in EUR/JPY stays neutral and the outlook is unchanged. Correction from 148.38 might have been completed at 142.54. A break of 147.09 resistance will indicate that the larger up trend is ready to resume through the 148.38 high. However, on the downside, a sustained break of 142.65 will bring a deeper fall to 61.8% retracement at 139.11 and possibly below.
In the bigger picture, there is no clear sign of medium-term topping yet. Up trend from 114.42 (2020 low) could still resume through 148.38 to 149.76 (2014 high). However, the break of 137.32 support argues that a medium-term correction has already started to correct the whole up trend from 114.42.
