EURJPY Wave Analysis – 22 April, 2020

• EURJPY reversed from support area
• Likely to rise to 117.80

EURJPY recently reversed up from the support area lying between the key support level 116.20 (which has been reversing the price from September) and the lower daily Bollinger Band.

The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Hammer.

EURJPY is expected to rise further toward the next resistance level 117.80. Strong support remains at the support level 116.20.