EURJPY Wave Analysis – 3 August, 2022

• EURJPY reversed from support level 133.30

• Likely to rise to resistance level 136.75

EURJPY currency pair recently reversed up from the key support level 133.30 (which stopped wave 2 in May) – standing far outside of the lower daily Bollinger Band.

The upward reversal from the support level 133.30 created the daily candlesticks pattern Hammer – which started the active intermediate impulse wave (3).

EURJPY currency pair can be expected to rise toward the next resistance level 136.75 (low of wave A of the previous ABC correction (2)).