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EUR/JPY Wave Analysis – 24 August , 2018

EUR/JPY rising inside impulse wave 3
• Further gains are likely

EUR/JPY continues to rise inside the short-term impulse wave 3 – which previously broke through the resistance zone lying between the resistance level 127.30 and the 38.2% Fibonacci correction of the previous ABC correction 2.

The breakout of this resistance zone accelerated the active impulse wave 3 which belongs to the medium-term impulse wave (3) from the end of May.

EUR/JPY is expected to rise further and retest the next resistance level 129.40 (top of the previous corrective wave (ii)).

EURJPY - Primary Analysis - Aug-24 1932 PM (1 day)

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