EURJPY Wave Analysis – 30 March, 2020

• EURJPY reversed from resistance area
• Likely to fall to 118.50

EURJPY recently reversed down from the resistance area lying between the strong resistance level 121.00 (which has been reversing the price from the start of February), upper daily Bollinger Band and the resistance trendline from November of 2018.

The downward reversal from the resistance area started the active medium-term impulse wave (3).

EURJPY is likely to fall toward the next support level 118.50 (former Double Bottom from February).