EURJPY Wave Analysis 26 September 2024

– EURJPY rising inside minor impulse wave 3

– Likely to reach resistance level 162.8

EURJPY currency pair earlier continues to rise inside the minor impulse wave 3, which started earlier from the support area located between the long-term support level 154.85 (which has been reversing the pair from 2023) and the lower daily Bollinger Band.

The active impulse wave 3 belongs to the intermediate impulse wave (5) from the start of August.

Given the strongly bearish yen sentiment seen across the FX markets, EURJPY currency pair can be expected to rise further to the next resistance level 162.8 (top of wave b from the start of September).