EURJPY Wave Analysis – 6 July, 2020

• EURJPY broke resistance level 121.40

• Likely to rise to 122.00

EURJPY recently broke the resistance level 121.40 – coinciding with the 38.2% Fibonacci retracement of the previous sharp downward ABC correction 2.

The breakout of the resistance level 121.40 accelerated the active short-term impulse sequence 3 from the end of June. EURJPY is likely to rise further toward the next resistance level 122.00 (top of the previous short-term wave (b) from last month).