Categories: Technical analysis

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)).

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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