EURJPY Wave Analysis – 2 June, 2022

• EURJPY broke key resistance level 138.15
• Likely to rise to resistance level 140.00

EURJPY recently broke the key resistance level 138.15 (which stopped waves (a) and (b) at the start of May).

The breakout the resistance level 138.15 accelerated the active minor impulse wave (iii), which belongs to the higher order impulse wave 3 from last month.

Given the clear daily uptrend – EURJPY can be expected to rise further toward the next resistance level 140.00 (top of wave 1 from April).