EURJPY Technical Analysis Report 28 October, 2025
Given the strength of the resistance level 178.000, bearish divergence on the daily Stochastic indicator and the bearish euro sentiment that can be viewn across the FX markets today, EURJPY currency pair be expected to fall to the next support level 175.40 (low of wave iv).
- EURJPY reversed from resistance level 178.00
- Likely to fall to support level 175.40
EURJPY currency pair recently reversed down from the resistance area between the pivotal resistance level 178.00 (which stopped the previous impulse wave iii in the middle of October, as can be viewn from the daily EURJPY chart below) and the upper daily Bollinger Band. The downward reversal from this resistance area stopped the earlier minor impulse wave (5) – which belongs to the impulse wave 5 from the end of July. The price is currently forming the daily Japanese candlesticks reversal pattern Evening Star – strong trade signal for this currency pair.
Given the strength of the resistance level 178.000, bearish divergence on the daily Stochastic indicator and the bearish euro sentiment that can be viewn across the FX markets today, EURJPY currency pair be expected to fall to the next support level 175.40 (low of wave iv).
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