Technical analysis

EURJPY Wave Analysis 26 March, 2021

EURJPY Wave Analysis 26 March, 2021

• EURJPY reversed from support level 128.4

• Likely to rise to resistance level 130.00

EURJPY recently reversed up from the support level 128.4 (former resistance from February) – intersecting with the lower daily Bollinger Band and 50% Fibonacci correction of the upward impulse from February.

The upward reversal from this support area started the active short-term impulse wave (b).

EURJPY is likely to rise further toward the next resistance level 130.00 (target price for the completion of the active minor correction (b)).

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