EURJPY Wave Analysis – ActionForex
EURJPY: ⬆️ Buy
- EURJPY reversed from support area
- Likely to rise to resistance level 184.85
EURJPY currency pair recently reversed from the support area between the pivotal support level 183.25 (former resistance from the start of December) and the 50% Fibonacci correction of the upward impulse from December.
The upward reversal from this support zone continues the active impulse wave iii – which belongs to the higher order impulse waves 3 and (5).
Given the clear daily uptrend, EURJPY currency pair can be expected to rise to the next resistance level 184.85 (top of the previous impulse wave iii).
