EURJPY Wave Analysis – 11 February 2025

- EURJPY reversed from the support area
- Likely to rise to the resistance level 159.65

EURJPY currency pair recently reversed up from the support area located between the key support level 156.000 (which has been steadily reversing the price from August of 2024 as can be seen below) and the lower weekly Bollinger Band.

The upward reversal from the support area stopped the previous weekly downward impulse wave (3) from last year.

Given the strength of the support level 156.000, EURJPY currency pair can be expected to rise to the next resistance level 159.65 (the former weekly low from January).