EURJPY: ⬇️ Sell
– EURJPY reversed from key resistance level 178.10
– Likely to fall to support level 175.35
EURJPY currency pair recently reversed down from the resistance zone between the key resistance level 178.10 (which has been reversing the price from September, stopping wave iii in the middle of September, wave 4 at the start of October and wave ii in the middle of October), the upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from the middle of September.
The downward reversal from this resistance zone stopped the previous short-term upward correction from the support level 175.35.
Given the clear daily downtrend, EURJPY currency pair can be expected to fall further toward the next support level 175.35 – which stopped the previous impulse wave 5 at the end of October.
, the upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from the middle of September.){kind=link}