EURJPY Wave Analysis – 12 April 2023   

• EURJPY broke resistance area

• Likely to rise to resistance level 147.00

EURJPY recently broke the resistance area located at the intersection of the resistance level 145.40 (former monthly high from March) and the resistance trendline of the wide down channel from October.

The breakout of the resistance area accelerated the active short-term impulse wave 3 of the intermediate impulse wave (C) from January.

EURJPY can then be expected to rise further toward the next resistance level 147.00 (target for the completion of the active impulse wave 3).