Categories: Technical analysis

EURJPY Wave Analysis – 14 July 2023

– EURJPY reversed from support level 153.50

– Likely to rise to resistance level 158.00

EURJPY currency pair recently reversed up sharply from the support level 153.50, intersecting with the daily up channel from March, lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from last month.

The upward reversal from the support level 153.50 continues the active short-term impulse wave 3 from May.

Given the clear daily uptrend, EURJPY can be expected to rise further toward the next resistance level 158.00 (target price for the completion of the active impulse wave 3).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: EURJPY

Recent Posts

EURCAD Wave Analysis 6 September 2024

- EURCAD reversed from pivotal support level 1.4900 - Likely to rise to resistance level…

1 day ago

EURUSD Wave Analysis 6 September 2024

- EURUSD reversed from support level 1.1030 - Likely to rise to resistance level 1.1200…

1 day ago

Further Unwinding of Carry Trade

The unwinding of the carry trade in the FX market continues, with the major safe…

1 day ago

Bitcoin pressured by risk-off mood

Market Picture The pressure on risk assets continues, pushing the crypto market capitalisation back below…

2 days ago

AUDUSD Wave Analysis 5 September 2024

- AUDUSD reversed from support level 0.6700 - Likely to rise to resistance level 0.6800…

2 days ago

Gold Wave Analysis 5 September 2024

- Gold reversed from support level 2475.00 - Likely to rise to resistance level 2535.00…

2 days ago

This website uses cookies