EUR/JPY: sell target - 128.00
By: Dmitriy Chernovolov
- EUR/JPY falling inside impulse waves (iii), 3 and (3)
- Next sell target - 128.00
EUR/JPY has been falling in the last few trading sessions inside the third minor impulse wave (iii), which started earlier, when the pair reversed down from the resistance zone lying between the resistance level 132.00, the upper daily Bollinger Band and the 61.8% Fibonacci retracement of the previous sharp downward impulse from the start of January, as can be seen below.
Having recently broken the round support level 130.00, the pair is expected to fall further in the active impulse waves (iii), 3 and (3) toward the next sell target at the support level 128.00.