EURJPY Wave Analysis – 17 October, 2022

• EURJPY broke key resistance level 144.00

• Likely to rise to resistance level 148.00

EURJPY recently broke above the key resistance level 144.00 (which has been steadily reversing the pair from the start of June).

The breakout of the resistance level 144.00 accelerated the active short-term impulse wave (iii), which belongs to the higher order impulse waves 3 and (3).

EURJPY can be expected to rise toward the next resistance level 148.00 (target price for the completion of the active impulse wave (iii)).