Categories: Technical analysis

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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: EURJPY

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