EUR/JPY eyes double correction while bulls stay in control [Video]

Elliott Wave Forecast Team ElliottWave-Forecast.com

The short-term Elliott Wave outlook for EUR/JPY indicates that the cycle from the 17 October 2025 low remains in progress as a structured five-wave impulse. From that low, wave 1 advanced and concluded at 178.82f. A corrective pullback in wave 2 then followed, which ended at 175.69. The pair then resumed its upward trajectory, with wave 3 reaching 182, as reflected in the 45‑minute chart. At present, wave 4 is unfolding, serving to correct the cycle from the 5 November low, and its internal subdivision is developing in the form of a double three pattern.

Down from wave 3, wave (w) ended at 180.61 and rally in wave (x) ended at 181.2. Pair resumed lower in wave (y) towards 179.76 which completed wave ((w)) in higher degree. Rally in wave ((x)) ended at 181.26 with internal subdivision as a zigzag. Pair has turned lower in wave ((y)) but still need to break below wave ((w)) at 179.76 to confirm this view. Near term, as far as pivot at 182 high stays intact, expect pair to extend lower. Potential target lower is 100% – 161.8% Fibonacci extension of wave ((w)) towards 177.6 – 179.02.

EUR/JPY 45-minute Elliott Wave chart from 11.21.2025

EUR/JPY Elliott Wave [Video]

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

EUR/USD weakens to near 1.1900 as traders eye US data

The EUR/USD pair loses ground to around 1.1905, snapping the two-day winning streak during the early European trading hours on Tuesday. Markets might turn cautious ahead of the release of key US economic data, including US employment and inflation reports that were pushed back slightly due to the recently ended four-day government shutdown.

GBP/USD edges lower below 1.3700 on UK political risks, BoE rate cut bets

The GBP/USD pair trades on a weaker note around 1.3685 during the European session on Tuesday. The Pound Sterling edges lower against the US Dollar amid political risk in the United Kingdom and rising expectations of near-term Bank of England rate cuts.

Gold drifts lower as positive risk tone tempers safe-haven demand; downside seems limited

Gold drifts lower during the Asian session on Tuesday and snaps a two-day winning streak, though it lacks strong follow-through selling and shows some resilience below the $5,000 psychological mark amid mixed cues. The outcome of Japan's snap election on Sunday removes political uncertainty, which, along with signs of easing tensions in the Middle East, remains supportive of the upbeat market mood.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.

Follow the money, what USD/JPY in Tokyo is really telling you

Over the past two Tokyo sessions, this has not been a rate story. Not even close. Interest rate differentials have been spectators, not drivers. What has moved USD/JPY in local hours has been flow and flow alone.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash (BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.