EURJPY Wave Analysis – 26 April, 2022

• EURJPY reversed from resistance zone

• Likely to fall to support level 134.00

EURJPY currency pair recently reversed down from the resistance zone located between the 2 long-term resistance levels: 137.20 (yearly high from 2018) and 140.00 (key resistance from 2015).

The downward reversal from this resistance zone stopped the earlier intermediate impulse wave (3).

Given the clear bearish divergence on the monthly Stochastic – EURJPY currency pair can be expected to fall further toward the next support level 134.00.

Source: Fxpro

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