EUR/JPY Daily Outlook

Daily Pivots: (S1) 119.89; (P) 120.35; (R1) 120.61; More….

Intraday bias in EUR/JPY remains neutral first. Corrective rise from 115.86 could have completed at 122.87 already. On the downside, break of 109.77 will affirm this bearish case and pave the way to retest 115.86 low. Though, break of 121.26 will turn focus back to 122.87 high instead.

In the bigger picture, EUR/JPY is still staying in the falling channel established since 137.49 (2018 high). Thus, outlook remains bearish. Rise from 115.86 is seen as a corrective rise, which might have completed. Firm break of 115.86 will resume the down trend to 114.84 support next.