Technical analysis

EURJPY Wave Analysis 3 August 2023

– EURJPY reversed from key resistance level 157.75

– Likely to fall to support at 154.00

EURJPY currency pair recently reversed down with the Dark Cloud Cover from the key resistance level 157.75, which has been reversing the price from June.

The resistance level 157.75 was strengthened by the upper daily Bollinger Band.

Given the strength of the resistance level 157.75 and the strong yen gains across the FX markets, EURJPY can be expected to fall further toward the next support at 154.00.

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