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21.11.2023 08:29 AM
Elliott wave analysis of EUR/JPY for November 21, 2023
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The corrective decline in wave 4/ continues to unfold as expected and we should soon see a break below minor support at 162.13 for a continuation lower to test the next more substantial support at 159.75.

Short-term resistance is seen near 162.44 which ideally will act as a cap for the expected decline through minor support at 162.13 towards 159.75 and ultimately lower towards 154.00.

Torben Melsted,
Analytical expert of InstaTrade
© 2007-2025

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