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EUR/JPY Bearish Trend: Continuation Expected to 159.56, Likely Support at 159.15

01/16/2025

Less than a minute

2025.01.16 11:03

Forex Strategy is Bearish: We are currently @ 160.41 in a channel and a 5th wave. We are looking for a continuation to the ATR target @ 159.56 area, with possible movement to the 5th wave support (S5) @ 159.15. Watch the for directions. The average daily true range (ATR) for the pair currently is 154 pips per day and its 90-day average is 158 pips per day.

EURJPY – 5th wave completion on deck