EUR/JPY remains bearish on the daily chart, with the displayed price at 175.710. The Elliott Wave count preserves the W-X-Y structure ending at blue wave (B), followed by the red five-wave decline. Waves 1–4 are labeled, while wave 5 is projected to complete blue wave (C) and purple wave 4 near 174.00. The descending channel and successive lower highs support continued selling pressure. Since the previous report, the chart is unchanged, so no new price development can be confirmed. The blue projection anticipates a bullish reversal toward approximately 185.00 after the final decline, with 181.559 marked as a further-upside reference. Completion of wave 5 remains unconfirmed.
Technical Summary of EUR/JPY Price for October 24, 2026
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Trend: Bearish; bullish reversal projected.
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Current Elliott Wave: Red wave 5 projected within blue (C), completing purple wave 4.
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Key Support Levels: 174.00 (projected channel boundary).
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Key Resistance Levels: 181.559 (annotated upside reference); 185.00 (projected).
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Next Price Target: 174.00, followed by a potential recovery toward 185.00.
Trader's Question: Could EUR/JPY reverse upward after completing wave (C)?
The projected completion near 174.00 supports a potential recovery toward 185.00, but a reversal requires confirmation through subsequent price action.
