EURJPY Wave Analysis

  • EURJPY under bullish pressure
  • Likely to rise to resistance level 167.00

EURJPY currency pair under the bullish pressure after the price broke through the key resistance level 165.00, which has been reversing the price from March.

The breakout of the resistance level 165.00 accelerated the active impulse waves iii, 3 and (5).

Give the strength of the active uptrend and the continuation of the yen outflows, EURJPY currency pair can be expected to rise further to the next resistance level 167.00 (target price for the completion of the active impulse wave 3).

FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading