EURJPY Wave Analysis – 16 December, 2021

• EURJPY reversed from strong support level 128.00

• Likely to rise to resistance level 129.50

EURJPY currency pair recently reversed up strongly from the strong support level 128.00 (which has been reversing the price from the middle of August, as can be seen below).

The upward reversal from the support level 128.00 started the active intermediate impulse wave (3).

EURJPY can be expected to rise further toward the next resistance level 129.50 (top of wave 4) – followed by 130.00.