Categories: Technical analysis

EURJPY Wave Analysis – 13 April, 2020

  • EURJPY reversed from resistance level 119.00
  • Likely to fall to 116.20

EURJPY recently reversed down from the key resistance level 119.00 intersecting with the 50% Fibonacci retracement of the previous downward impulse (i) from March.

The downward reversal from the resistance level 119.00 started the active short-term impulse wave (iii).

Given the strong bullish yen sentiment – EURJPY is likely to fall further toward the next support level 116.20 (which has been reversing the price from the start of September).

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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