Technical analysis

EURJPY Wave Analysis – 6 September, 2022

EURJPY Wave Analysis – 6 September, 2022

• EURJPY broke key resistance level 139.50

• Likely to rise to resistance level 142.30

EURJPY currency pair recently broke the key resistance level 139.50 standing close to the 61.8% Fibonacci correction of the earlier downward ABC correction (2) from June.

The price earlier broke the resistance trendline of the daily down channel from the end of June – which accelerated the active impulse waves 3 and (3).

Given the clear daily uptrend – EURJPY can be expected to rise further toward the resistance level 142.30 (top of the previous wave B and the target for the completion of wave (iii)).

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