FX.co ★ Elliott wave analysis of EUR/JPY for November 21, 2023

The corrective decline in wave 4/ continues to unfold as expected and we should soon see a break below minor support at 162.13 for a continuation lower to test the next more substantial support at 159.75.

Short-term resistance is seen near 162.44 which ideally will act as a cap for the expected decline through minor support at 162.13 towards 159.75 and ultimately lower towards 154.00.