Bulls Can Take EUR/JPY Over At The 122.5/122.0 Area

Technical analysis of Forex market

EURJPY is trading in a bigger, three-wave reversal up from December of 2018 lows. We labelled a completed wave A/1, which can now be followed by a temporary three-wave a-b-c pullback labelled as wave B/2, with possible support zone here at the lower side of a corrective channel range around the 122.5/122.0 region, where Fibonacci ratios of 50.0 and 61.8 can slow bears down, and can react as turning point zones for wave C/3 up back above wave A/1 swing high.


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