EURJPY Wave Analysis – 31 March 2023

• EURJPY reversed from key resistance level 145.40

• Likely to fall to support level 143.00.

EURJPY under the bearish pressure after the pair reversed down from the key resistance level 145.40 (which stopped the previous upward impulse wave 1 at the start of March), standing near the upper daily Bollinger Band.

The downward reversal from the resistance level 145.40 is likely to form the daily Shooting Star – if the pair closes today near the current levels.

Given the strongly bearish euro sentiment, EURJPY can then be expected to fall further toward the next support level 143.00.