EURJPY Slows Down For A Higher Degree Correction
Jan 5, 2024


EURJPY hits new highs in the last 10 years or so, with the price acting impulsively on the monthly and weekly charts, but traders should be aware of a new deeper correction now on a daily chart that can already be in progress after prices found resistance at 164. We see some nice and sharp reversal in the last week or so, so it appears that a three-wave higher degree A-B-C correction within wave (IV) can be in play, possibly back to 151 – 150  support area before we will see a bullish continuation.

EURJPY Slows Down For A Higher Degree Correction EURJPY Daily Chart
EURJPY Daily Chart

JP Morgan Is Eyeing 200 Area. Check our blog HERE.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.