EURJPY Wave Analysis – 29 June, 2020

• EURJPY reversed from support level 119.00

• Likely to reach 122.00

EURJPY recently reversed up from the support level 119.00 (former resistance from April), – intersecting with the 50% Fibonacci correction of the previous impulse wave from the start of May.

The upward reversal from the support level 119.00 started the active short-term impulse wave 3 – which is a part of the longer-term impulse sequence (C) from May. EURJPY is likely to rise further toward the next resistance level 122.00 (top of the previous minor corrective wave (b))).