Technical analysis

EURJPY Wave Analysis 12 April, 2021

EURJPY Wave Analysis 12 April, 2021

• EURJPY reversed from resistance level 130.60

• Likely to reach support level 129.50

EURJPY today reversed down from the powerful resistance level 130.60 (which has been reversing the pair from the middle of March).

The resistance zone near the resistance level 130.60 was further strengthened by the upper daily Bollinger Band,     

EURJPY is likely to fall further toward the next support level 129.50 (low of the previous short-term corrective wave (iv)).

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