EURJPY Wave Analysis – 17 March, 2022

• EURJPY broke key resistance level 130.00
• Likely to rise to resistance level 132.00

EURJPY recently broke the key resistance level 130.00, intersecting with the 61.8% Fibonacci correction of the downward impulse from February.

The breakout of the resistance level 130.00 accelerated the active short-term correction (ii).

EURJPY can be expected to rise further toward the next resistance level 132.00 (top of the previous correction (ii) from last month).