Given the clear daily uptrend and the strong daily uptrend, EURJPY currency pair can be expected to rise to the next resistance level 186.00 (which stopped earlier waves (5) and B)).
- EURJPY broke resistance area
- Likely to rise to resistance level 186.00
EURJPY currency pair recently broke the resistance area between the resistance level 184.65 (upper border of the sideways price range inside which the pair has been moving from the end of February, as can be seen from the daily EURJPY chart below) and the resistance trendline of the daily Triangle from the middle of January. The breakout of this resistance area accelerated the active short-term impulse wave 3, which belongs to the intermediate impulse wave (3) from the middle of March.
Given the clear daily uptrend and the strong daily uptrend, EURJPY currency pair can be expected to rise to the next resistance level 186.00 (which stopped earlier waves (5) and B)).
EURJPY Technical Analysis
