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FxPro Forex Analysis: EURJPY Wave Analysis – 13 August , 2018

EURJPY reversed from support zone
• Further gains are likely

EURJPY continues to rise after the previous sharp upward reversal from the support zone lying between the key support level 125.00 – intersecting with the lower daily Bollinger Band.

The upward reversal form this support zone completed the earlier short-term correction (c) of the ABC correction 2 from July.

Given the oversold reading on the daily Stochastic indicator – EURJPY is likely to rise further and re-test the next resistance level 126.60 (former monthly low from June).

EURJPY - Primary Analysis - Aug-13 1812 PM (1 day)

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