• EURJPY broke resistance zone
• Likely to rise to resistance level 132.00
EURJPY currency pair recently broke the resistance zone lying between the key resistance level 130.70 (which has been reversing the price from the end of July), resistance trendline of the daily down channel from July and 38.2% Fibonacci correction of the previous downward impulse from July. The breakout of this resistance zone accelerated the active intermediate impulse wave (C).
Given the continued strong yen bearishness seen across the FX markets today, EURJPY currency pair can be expected to rise further in the active impulse wave 1 toward the next resistance level 132.00 (target price for the completion of the active impulse wave (C)).