LeoPrime Daily Market Analysis

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EURJPY reversed from support area; Likely to rise to resistance level 134.000.

EURJPY currency pair recently reversed up from the support area located between the key support level 133.000 (which has been reversing the pair from the middle of May) and the 38.2 Fibonacci correction level of the previous upward price impulse from the start of May . The upward reversal from this support area stopped the previous minor ABC correction (iv). Given the clear uptrend and the growing euro bullishness seen today – EURJPY currency pair can be expected to rise further toward the next resistance level 134.000 (which stopped the previous impulse wave (iii)).

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