EUR/JPY reversed from combined resistance area

EUR/JPY reversed from combined resistance area

2019-11-11 • Updated

  • EUR/JPY reversed from combined resistance area
  • Next sell target - 128.00

EUR/JPY recently reversed down from the combined resistance area lying between the resistance level 131.30 (which stopped the previous corrective wave (b) and which was set as the buy target in our previous forecast for this currency pair) and the upper daily Bollinger Band. The downward reversal from this resistance area started the active minor correction (ii), which belongs to the impulse wave 5. EUR/JPY is expected to fall toward next sell target at the next support level 128.00 (which reversed earlier wave 4).

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