EURJPY Technical Analysis Report 9 June, 2021

• EURJPY reversed from support zone
• Likely to rise to resistance level 134.10

EURJPY continue to rise after this currency pair recently reversed up from the support zone lying between the support level 133.00 (former minor support from the end of May) and the 38.2% Fibonacci correction of the upward impulse from the start of May. The upward reversal from this support zone stopped the earlier minor correction (iv) – starting the active impulse wave (v).

Given the powerful multi-month uptrend and the rising euro bullish sentiment see across the FX markets today, EURJPY currency pair can be expected to rise further toward the next resistance level 134.10 (top of the previous minor impulse wave (iii) from the end of May).

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