Categories: Technical analysis

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))).

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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Tags: EURJPY

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