EUR/JPY: sell target – 122.10
By: Dmitriy Chernovolov
- EUR/JPY falling inside impulse wave (5)
- Next sell target – 122.10
EUR/JPY has been falling in the last few trading sessions inside the sharp indeterminate impulse wave (5) – which started earlier - when the price reversed down from the resistance zone lying between the resistance level 128.00, upper daily Bollinger Band, and the 61.8% Fibonacci correction of the previous sharp downward impulse from the end of January. The price earlier broke the daily Rising Wedge from February and the support level 124.00 – which further accelerated the active impulse wave (5)
EUR/JPY is likely to fall to the next sell target at the support level 122.10 (which stopped the previous sharp intermediate impulse wave (3) in February).