EURJPY Wave Analysis – 24 February 2025
- EURJPY reversed from support zone
- Likely to rise to resistance level 158.00
EURJPY currency pair recently reversed up from the support zone between the multi-month support level 156.00 (which has been reversing the pair rom last August) and the lower daily Bollinger Band.
The upward reversal from this support zone is likely to form the daily Japanese candlesticks reversal pattern Piercing Line – if the pair closes today near the current levels.
Given the strength of the support level 156.00 and the bullish euro sentiment seen today, EURJPY currency pair can be expected to rise to the next resistance level 158.00.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
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Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.