I have an entry buy order at 163.22, EurJpy. Price bounced off of the 78.6% of the retrace of 162.23 to 163.85 which is also the 23.6% retrace of the move from 158.57 to 163.85. I am looking for a cycle move higher lasting until late May to early June longer term.
it seems the last breakout at 6 June wasn't strong enough, and some indicators are showing considerable increase of strength for Yen. I would be aware at false breakout in next least line of last resistance at 165.753 - 166.646.