EURJPY Wave Analysis – 5 May, 2020

• EURJPY reversed from support zone
• Likely to rise to 118.00

EURJPY today corrected up from the support area lying between the long-term support level 115.80 (which has been reversing the price from the start of May) and the lower daily Bollinger Band.

The upward reversal from this support area stopped the previous short-term impulse waves 3 and (3).

EURJPY is expected to rise further toward the next resistance level 118.00 (which reversed the pair earlier in April).

EURJPY