Intraday bias in EUR/JPY remains neutral for the moment as the crosses in still bounded in
range below 136.08. While another fall cannot be ruled out as consolidation continues, downside
should be contained by 132.08 support and bring rally resumption. Above 136.08 will target
136.87 first and then 139.21 high. Also, note that correction from 139.21 has likely completed
with three waves down to 127.08 already and medium term rise from 112.10 is possibly resuming
for another high above 139.21. However, note that a break below 132.08 support will in turn
suggest that rebound from 127.08 has completed and will turn outlook bearish for retesting this
low.[actionforex]
