Categories: Technical analysis

EURJPY Wave Analysis 10 July 2024

– EURJPY broke the key resistance level 174.30

– Likely to rise to the resistance level 176.00

EURJPY currency pair recently broke above the key resistance level 174.30, which stopped the previous impulse wave I at the start of July.

The breakout of the resistance level 174.30 accelerated the active impulse wave iii of the higher upward impulse wave 5 from the middle of June.

Given the clear daily uptrend and widespread yen sales, EURJPY currency pair can be expected to rise further to the next resistance level 176.00.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: EURJPY

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