Categories: Technical analysis

EURJPY Wave Analysis – 6 February 2025

– EURJPY broke support zone

– Likely to fall to support level 156.00

EURJPY currency pair today broke support zone between the support level 158.00 (which reversed the price at the start of this month) and the support trendline of the daily down channel from December.

The breakout of this support zone strengthened the bearish pressure on this currency pair, which accelerated the active impulse wave iii.

EURJPY currency pair can be expected to fall to the next support level 156.00 (which has been reversing the price from August).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: EURJPY

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