EURJPY Wave Analysis – 29 April, 2019

• EURJPY reversed from support area
• Further gains are likely

EURJPY recently reversed up from the support area lying between the support level 124.10 (lower boundary of the sideways price range from March) and the lower daily Bollinger Band.

The upward reversal from this support area completed the previous short-term ABC correction 2 from the middle of April.

EURJPY is expected to rise further and re-test the next resistance level 127.00 (upper boundary of the aforementioned price range).