EUR/JPY Selling Pressure Mounts as Market Prepares for Next Leg Down

Published 03/24/2025, 08:48 AM

Forex Strategy is Bearish: EUR/JPY is currently at 162.19 in a 4th wave. If we complete the turn, we are looking for a continuation to the ATR target at 160.74 area, with a further target for the S5 at 1160.42 area. USDX is currently threatening up. Watch the USDX for directions. The average daily true range (ATR) for the pair currently is 186 pips per day, and its 90-day average is 170 pips per day.

EURJPY Watching for the turn

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