Detailed FX Market Outlook and Analysis

EUR/JPY Daily Analysis 28-SEP-2022

EUR/JPY Daily Analysis

Intraday bias in EUR/JPY remains neutral for the moment. On the downside, the break of 137.32 will resume the decline from 145.62 to 133.38 key support next. On the upside, though, the break of 142.28 will turn bias back to the upside for retesting the 145.62 high.

In the bigger picture, as long as 133.38 support holds, the up trend from 114.42 (2020 low) could still extend through 145.62 high. In that case, the next target is 149.76 (2015 high). However, a sustained break of 133.38 will be a sign of medium-term bearish reversal and bring a deeper fall to 124.37 support first.

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