• 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)).