Technical analysis

EURJPY Wave Analysis – 27 June 2023


– EURJPY under bullish pressure

– Likely to rise to resistance level 160.00

EURJPY under the bullish pressure after the price broke the resistance level 151.50 (which stopped the previous weekly impulse wave 3 in April).

The breakout of the resistance level 151.50 coincided with the breakout of the weekly up channel from 2020, which accelerated the active intermediate impulse wave (3).

Given the clear weekly uptrend, EURJPY can be expected to rise further toward the next resistance level 160.00, forecast price for the completion of the active impulse wave (3).

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