October 13, 2020 at 03:31PM
• EURJPY reversed from resistance area
• Likely to fall to 123.25
EURJPY recently reversed down with the daily Bearish Engulfing from the resistance area lying between the resistance level 125.00, upper daily Bollinger band and the 50% Fibonacci correction of the downward impulse A from September.
The downward reversal from this resistance area stopped the previous short-term ABC correction B.
EURJPY is likely to fall further toward the next support level 123.25 (which stopped the previous minor correction (b) at the start of October).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/eurjpy-wave-analysis-13-october-2020-20201013/
Selected by fonecable.com
- Australian Dollar Forecast: Major AUD/NZD Bottom May Soon Be Approaching
- British Pound Slips After Data, Still Tied to Range. Can GBP/USD Break Out Ahead of FOMC?
- How to Research Stocks: A Step by Step Guide
- Gold Price Outlook Turns to UofM Sentiment as US Dollar, Treasury Yields Rally
- New Zealand Dollar Outlook: NZD/USD Drops on US Dollar Bids, Wall Street Losses