EURJPY Wave Analysis – 31 July, 2020
July 31, 2020 @ 17:26 +03:00
• EURJPY broke key resistance level 124.30
• Likely to rise to 126.00
EURJPY today broke above the key resistance level 124.30 (which stopped the previous waves (A) and (i) – as can be seen from the daily EURJPY chart below.
The breakout of the resistance level 124.30 should accelerate the active short-term impulse wave 3 – which belongs to the medium-term impulse wave (C).
EURJPY is expected to rise further toward the next resistance level 126.00 (target price for the completion of the active impulse wave 3).