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EURJPY Wave Analysis – 28 July, 2020

EURJPY Wave Analysis – 28 July, 2020
  • 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).

EURJPY Wave Analysis – 28 July, 2020


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