EURJPY Wave Analysis – 20 December, 2021

• EURJPY reversed from key support level 127.00

• Likely to rise to resistance level 129.20

EURJPY recently reversed up from the key support level 127.00 (which stopped the previous corrective wave (C) at the start of December).

The support zone near the support level 127.00 was strengthened by the lower daily Bollinger Band.

EURJPY can be expected to rise further toward the next resistance level 129.20 (which stopped the previous impulse wave (1)).