Technical analysis

EURJPY Wave Analysis 28 April, 2021

• EURJPY broke resistance zone

• Likely to rise to resistance level 132.00

EURJPY recently broke through the resistance zone lying between the resistance levels 131.00 and 130.60 (top of the previous impulse waves 1 and (i)).

The breakout of this resistance zone accelerated the active multi-impulse sequence made out of the impulse waves (iii), 3 and (3).

EURJPY is likely to rise further toward the next key resistance level 132.00 (target price for the completion of the active impulse wave 3).

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