EURJPY Wave Analysis – 13 August, 2020

• EURJPY broke key resistance level 125.65

• Likely to rise to 127.00

EURJPY continues to rise inside the sharp upward impulse wave (iii) – which previously broke above the key resistance level 125.65 (top of the daily Evening Star from the start of August).

The breakout of the resistance level 125.65 accelerated the active nested impulse waves (iii), 5 and (C).

EURJPY is likely to rise further toward the next resistance level 127.00 (likely price for the completion of the active impulse wave (iii)).