Technical analysis

EURJPY Wave Analysis 24 April 2024

– EURJPY under bullish pressure

– Likely to rise to resistance level 167.00

EURJPY currency pair under the bullish pressure after the price broke through the key resistance level  165.00, which has been reversing the price from March.

The breakout of the resistance level 165.00 accelerated the active impulse waves iii, 3 and (5).

Give the strength of the active uptrend and the continuation of the yen outflows, EURJPY currency pair can be expected to rise further to the next resistance level 167.00 (target price for the completion of the active impulse wave 3).

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