EURJPY Wave Analysis 26 March, 2021
March 26, 2021 @ 14:30 +03:00
• EURJPY reversed from support level 128.4
• Likely to rise to resistance level 130.00
EURJPY recently reversed up from the support level 128.4 (former resistance from February) – intersecting with the lower daily Bollinger Band and 50% Fibonacci correction of the upward impulse from February.
The upward reversal from this support area started the active short-term impulse wave (b).
EURJPY is likely to rise further toward the next resistance level 130.00 (target price for the completion of the active minor correction (b)).