EURJPY Wave Analysis 22 March, 2021

• EURJPY reversed from support level 129.00

• Likely to rise to resistance level 130.70

EURJPY under bullish pressure after the price reversed up from the support level 129.00 (which has been reversing the price from start of March) – standing close to the 38.2% Fibonacci correction of the upward impulse from the start of February.

The upward reversal from the support level 129.00 stopped the previous minor corrective wave ii.

Given the persistent daily uptrend – EURJPY is likely to rise further toward the next resistance level 130.70 (top of the previous impulse wave i).