EURJPY Wave Analysis

  • EURJPY broke the key resistance level 174.30
  • Likely to rise to the resistance level 176.00

EURJPY currency pair recently broke above the key resistance level 174.30, which stopped the previous impulse wave I at the start of July.

The breakout of the resistance level 174.30 accelerated the active impulse wave iii of the higher upward impulse wave 5 from the middle of June.

Given the clear daily uptrend and widespread yen sales, EURJPY currency pair can be expected to rise further to the next resistance level 176.00.

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