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EURJPY Wave Analysis 29 October, 2020

EURJPY Wave Analysis 29 October, 2020

• EURJPY broke support area

• Likely to fall to 121.00

EURJPY recently broke the support area lying between the key support level 122.60 (low of the previous short-term impulse wave A) and the 38.2% Fibonacci correction of the upward impulse from May.

This fibonacci retracement also coincided with the 61.8% Fibonacci correction of the upward impulse from June – forming the Fibonacci cluster.

EURJPY is likely to fall further toward the next support level 121.00 (target price for the completion of the active minor impulse wave (iii)).

EURJPY Wave Analysis 29 October, 2020


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