EURJPY Wave Analysis – 03 April, 2020

• EURJPY reversed from multi-month support level 116.20
• Likely to rise to 118.00

EURJPY recently reversed up from the multi-month support level 116.20 (which has been reversing the price from September of 2019, as can be seen form the daily EURJPY chart below).

The support area near the support level 116.20 was strengthened by the lower daily Bollinger Band.

EURJPY is likely to extend the gains toward the next resistance level 118.00 (former support from the middle of March).