Market Snapshots

EURJPY Wave Analysis – 3 June, 2020

EURJPY Wave Analysis – 3 June, 2020

• EURJPY rising inside sharp C-wave

• Likely to rise to 123.00

EURJPY continues to rise inside the sharp C-wave of medium-term ABC correction (2) from the start of May – which previously broke the pivotal resistance level 121.00.

The breakout of the resistance level 121.00 was preceded by the breakout of the multi-year downtrend line from 2018.

EURJPY is expected to rise further toward the next resistance level 123.00 (former monthly high from January and the target price for the termination of the active C-wave).

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