EURJPY currency pair can be expected to rise to the next resistance level 186.00 (which has been reversing the price from the start of June).
- EURJPY reversed from support zone
- Likely to rise to resistance level 186.00
EURJPY currency pair recently reversed up from the support area between the pivotal support level 183.35 (which has been reversing the price from the end of March, as can be seen from the daily EURJPY chart below), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse 1 from February. The upward reversal from this support zone started the active minor impulse wave iii, which belongs to the impulse waves 3 and (3).
Given the clear daily uptrend and the bearish yen sentiment seen across the FX markets today, EURJPY currency pair can be expected to rise to the next resistance level 186.00 (which has been reversing the price from the start of June).