• EURJPY broke key resistance level 139.50
• Likely to rise to resistance level 142.30
EURJPY currency pair recently broke the key resistance level 139.50 standing close to the 61.8% Fibonacci correction of the earlier downward ABC correction (2) from June.
The price earlier broke the resistance trendline of the daily down channel from the end of June – which accelerated the active impulse waves 3 and (3).
Given the clear daily uptrend – EURJPY can be expected to rise further toward the resistance level 142.30 (top of the previous wave B and the target for the completion of wave (iii)).
Source: Fxpro
