EURJPY Wave Analysis – 29 November, 2021

• EURJPY reversed from support level 127.90

• Likely to rise to resistance level 129.50

EURJPY currency pair recently reversed up strongly from the pivotal support level 127.90 (which has been reversing the price form August), intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 127.90 is likely to form the daily candlesticks reversal pattern Hammer.

EURJPY currency pair can be expected to rise further toward the next resistance level 129.50 (top of the previous ABC correction 4).