Technical analysis

EURJPY Wave Analysis – 16 March 2023

• EURJPY reversed from round support level 140.00

• Likely to rise to resistance level 142.65

EURJPY currency pair recently reversed up from the round support level 140.00 (previous Double Bottom from the start of February).

The support level 140.00 coincided with the 61.8% Fibonacci correction of the previous sharp upward impulse from the start of January.

EURJPY currency pair can be expected to rise further toward the next resistance level 142.65 (former support from the end of February).

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