Technical analysis

EURJPY Wave Analysis 18 April 2024

– EURJPY reversed from resistance level 164.00

– Likely to fall to support level 163.85

EURJPY currency pair recently reversed down from the pivotal resistance level 164.00, which has been reversing the price from last month.

The resistance level 164.00 was strengthened by the nearby upper daily Bollinger Band, as you can see below.

Given the strength of the aforementioned resistance level 164.00 and the bearish euro sentiment seen today, EURJPY can be expected to fall further to the next round support level 163.85.

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