Categories: Technical analysis

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)).

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.

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