Categories: 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).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: EURJPY

Recent Posts

Brent crude oil Wave Analysis 17 May 2024

- Brent crude oil reversed from key support level 81.00 - Likely to test resistance…

1 day ago

Silver Wave Analysis 17 May 2024

- Silver broke multi-year resistance level 29.50 - Likely to reach resistance level 32.00 Silver…

1 day ago

The dollar index clings to the uptrend

The US dollar is not giving up without a fight, gaining for the second day…

1 day ago

After surpassing $30, silver may aim for $50

Silver climbed above $29.8, rewriting the highs from January 2021, but once again faced selling…

2 days ago

The crypto market is ready to grow further

Market picture The crypto market cooled off on Thursday afternoon, but on Friday morning, buyers…

2 days ago

Amazon Wave Analysis 16 May 2024

- Amazon reversed from resistance level 190.00 - Likely to fall to support level 180.00…

2 days ago

This website uses cookies