EUR/JPY reached sell target 116.00

EUR/JPY reached sell target 116.00

2019-11-11 • Updated

  • EUR/JPY reached sell target 116.00
  • Next sell target - 114.00

EUR/JPY recently broke the support level 116.00, which was set as the sell target in our earlier forecast for this currency pair. The breakout of the support level 116.00 follows the earlier breakout of the 61.8% Fibonacci correction level of the previous upward impulse from October and the support zone located between support levels 119.00 and 118.00 (as can be seen below). The breakout of the support level 116.00 should accelerate the active impulse waves 5 and (C).

EUR/JPY is expected to fall further toward the next sell target at the support level 114.00 (target price for the completion of the active impulse wave (C)).

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