Technical analysis

EURJPY Wave Analysis – 31 March 2023

• EURJPY reversed from key resistance level 145.40

• Likely to fall to support level 143.00.

EURJPY under the bearish pressure after the pair reversed down from the key resistance level 145.40 (which stopped the previous upward impulse wave 1 at the start of March), standing near the upper daily Bollinger Band.

The downward reversal from the resistance level 145.40 is likely to form the daily Shooting Star – if the pair closes today near the current levels.

Given the strongly bearish euro sentiment, EURJPY can then be expected to fall further toward the next support level 143.00.

Article Rating
Rate this post