EUR/JPY: Bearish Fibonacci confluence zone in two timeframes [Video]
![EUR/JPY: Bearish Fibonacci confluence zone in two timeframes [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Crosses/EURJPY/forex-euro-and-japanese-currency-pair-with-calculator-4580994_XtraLarge.jpg)
I am still looking for a move higher in JPY and lower in the Euro. EURJPY has reached a 78.6% pullback level on the weekly chart and we can see a 5-wave count completing (Elliott Wave) on the four-hour chart. I am bear and building a short position.
Author

Ian Coleman
FXStreet
Ian started his financial career at the age of 18 working as a Junior Swiss Broker at Godsell Astley and Pearce (London). He quickly moved through the ranks and was Desk Manager at RP Martins at the age of 29.

















