Categories: Technical analysis

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)).

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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