EURJPY Wave Analysis – 14 May 2025

EURJPY: ⬇️ Sell

– EURJPY reversed from resistance area

– Likely to fall to support level 162.00

EURJPY currency pair recently reversed down from the resistance area between the pivotal resistance level 165.00 (which has been reversing the price from November), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from July.

The downward reversal from this resistance area stopped the c-wave of the previous short-term ABC correction 2 from February.

Given the strength of the resistance level 165.00, overbought daily Stochastic and clear daily downtrend, EURJPY currency pair can be expected to fall to the next support level 162.00.

Source: https://fxpro.news