GBP/NZD reversed from resistance zone Next sell target - 1…
EUR/JPY broke key resistance level 134.50
- EUR/JPY broke key resistance level 134.50
- Next buy target - 136.00
EUR/JPY today broke through the key resistance level 134.50 (which has reversed the previous waves (a), 1 and a – as can be seen from the daily EUR/JPY chart below). The breakout of the resistance level 134.50 accelerated the active minor impulse wave 3 – which started previously from the powerful support level 131.70, which has reversed multiple downward corrections from September. EUR/JPY is expected to rise to the next buy target at the next resistance level 136.00.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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