FX.co ★ Technical Analysis of the Daily Price Movement of the EUR/JPY Cross Currency Pair Wednesday November 16, 2022.

On the daily chart, the EUR/JPY cross currency pair on the whole still looks moving above its Moving Average 200 which means that the Buyers still dominate. However, With the appearance of deviations between price movements and the CCI indicator as well as the bearish 123 pattern, it is confirmed that in the near future EUR/JPY will experience a downward correction where the level to be tested is 142.55 if this level is successfully broken below the 139.51 level will be the next level to be tested. EUR/JPY will not return to its initial bias, especially if it breaks above the 146.71 level because if this level is successfully penetrated upwards, the possibility of a downward correction scenario described previously will canceled automatically.

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