EURJPY Wave Analysis – 17 September, 2020

• EURJPY broke support area

• Likely to fall to 123.00

EURJPY recently broke the support area located between the support level 124.50 (which stopped the previous waves iv, (iv) and (a)) and the 38.2% Fibonacci correction of the upward impulse from June.

The breakout of this support area continues the active short-term impulse wave (c) from the start of September.

EURJPY is likely to fall further toward the next support level 123.00 (target price calculated for the completion of the active sub-impulse wave i).