- EUR/JPY reversed from resistance level 128.00
- Next sell target - 126.00
EUR/JPY recently reversed down sharply from the resistance level 128.00 (former support level and the sell target set in our previous forecast for this currency pair, acting as resistance now – after it was broken by the previous sharp minor impulse wave (i)). The downward reversal from this resistance level completed the latest minor correction (ii) – starting the active impulse wave (iii), which belongs to the longer-term downward impulse waves 3 and (3), as can be seen below.
EUR/JPY is likely to fall to the next sell target at the support level 126.00 (which stopped the previous impulse wave (i) earlier this month).