EUR/JPY Price Analysis: Bears step in at 61.8% Fibo

FX
  • Bears are moving in at an acritical level of resistance confluence.
  • EUR/JPY bears are seeking a test of the 4-hour support structure. 

At the highs of 132. 70, EUR/JPY is testing the critical counter-trendline and the confluence of the 21-EMA as well as the horizontal resistance with the 61.8% Fibonacci retracement slightly below. 

The following illustrates the bearish bias.

EUR/JPY daily chart

4-hour chart

The break of support structure near 132 the figure will be key where the 21 EMA is also located in the same vicinity. 

Articles You May Like

Stocks bounce, Treasuries remain stock
Gold prices fall as markets reprice Fed’s policy outlook, US jobs data in focus
NZDUSD down for the 4th day in a row. Extends through swing area and looks toward 50%.
Chinese Tesla rival shares dive 11% after it forecasts a plunge in car deliveries
Broader US indices extend to new session lows