September 10, 2020 at 03:23PM
• EURJPY reversed from support zone
• Likely to rise to 127.00
EURJPY recently reversed up from the support zone lying between the key support level 124.35 (former monthly high from June), lower daily Bollinger Band and the 38.2% Fibonacci retracement of the previous upward impulse from June.
The upward reversal from this support zone started the active short-term impulse wave (v) – which belongs to the sharp upward impulse C from June.
EURJPY is likely to rise toward the next resistance level 127.00 (top of the previous upward impulse wave (iii) from August).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/eurjpy-wave-analysis-10-september-2020-20200910/
Selected by fonecable.com
- NEWS: Economic data coming up in the European session March 02, 2021 at 05:10AM
- Dollar Up, Gains Over Low-Yielders Over Tolerance for Higher U.S. Bond Yields
- NEWS: Germany reports 3,943 new coronavirus cases, 358 deaths in latest update today March 02, 2021 at 05:03AM
- NEWS: Australian ‘fiscal cliff’ job losses expected to be not severe, more like a ‘fiscal slope’ March 02, 2021 at 04:32AM
- Australian Dollar Forecast: AUD/USD Uptrend in Focus as RBA Holds Policy Steady