EURJPY Wave Analysis – 28 August, 2020

• EURJPY reversed from resistance level 126.70

• Likely to fall to 124.40

EURJPY recently reversed down exactly from the resistance level 126.70 (which stopped the previous minor impulse wave (i) at the start of August).

The resistance zone near the resistance level 126.70 was strengthened by the upper daily Bollinger Band.

EURJPY is expected to fall further toward the next support level 124.40 (low of wave (ii) and the former powerful resistance from June)