EUR/JPY – Bearish Setup with Elliott Wave Analysis

23 Mar

This EUR/JPY daily chart shows an Elliott Wave analysis, suggesting a possible bearish continuation. The current wave structure indicates the pair is moving through the final phase of a five-wave impulsive sequence.

The market has completed three waves of a larger impulsive cycle, with Wave (4)

The price movement between Wave (2) and Wave (4) shows a pause or slowdown after going up. This means the buyers are losing strength, and the price may soon start to fall

If the price gets rejected near 162.900, it could confirm further downside.

If it breaks below the 159.674 level, it may speed up the decline, with a possible target around 155.526 level.

3 Nis

İşlem aktif

Breakout of wave 4 will make new high!

5 Nis

İşlem kapandı: hedefe ulaştı

1st TP Done - 159.674