- EURJPY reversed from resistance level 124.30
- Likely to fall to 124.30
EURJPY recently reversed down from the resistance level 124.30 (which stopped the previous corrective (A)-wave at the start of July) – standing above the upper daily Bollinger band.
The downward reversal from the resistance level 124.30 started the active short-term correction 4.
Given the overbought daily Stochastic – EURJPY is likely to fall further toward the next support level 124.30 (low of the previous daily Hammer).