EURJPY Wave Analysis – 15 September, 2020

• EURJPY reversed from resistance level 126.50

• Likely to fall to 124.50

EURJPY earlier reversed down from the resistance level 126.50 (which reversed the price twice in August) – intersecting with the upper daily Bollinger Band.

The downward reversal from the resistance level 126.50 stopped the previous shot-term impulse wave (iii) from the start of September.

EURJPY is likely to fall further toward the next support level 124.50 (which reversed the previous waves (a) and (ii), as can be seen below).