- EURJPY broke key resistance level 158.40
- Likely to rise to resistance level 160.95
EURJPY currency pair recently broke through the key resistance level 158.40 (which stopped the previous waves 1 and b, as can be seen below) intersecting with the 50% Fibonacci correction of the downward impulse from November.
The breakout of the resistance level 158.40 accelerated the active short-term impulse wave 3 of the intermediate impulse (5) from December.
Given the clear daily uptrend and the strongly bearish yen sentiment, EURJPY can be expected to rise further to the next resistance level 160.95.
 intersecting with the 50% Fibonacci correction of the downward impulse from November.){kind=link}