EURJPY Wave Analysis – 27 March 2023

• EURJPY reversed from key support level 140.00

• Likely to rise to resistance level 143.65

EURJPY recently reversed up from key support level 140.00 (which has been reversing the price from the start of February).

The support level 140.00 was strengthened by the 61.8% Fibonacci correction of the previous upward impulse (1) from January and by the lower daily Bollinger Band.

EURJPY can then be expected to rise further toward the next resistance level 143.65 (top of the previous Evening Star).

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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