EUR/JPY Price Analysis: Bears engaged, eye 152.20, 61.8% ratio

EUR/JPY bears lurking for the open next week.
EUR has remained firm and bulls stay in control, but the focus is on the Yen.

Ross J Burland FXStreet

EUR/JPY is higher on Friday but that not tells the entire story as the following technical analysis illustrates. It has traded between a low of 155.92 and a high of 156.13 but there is a bearish bias:

EUR/USD technical analysis

While the Euro has upside potential, the EUR/JPY chart is bearish as the Yen is flying:

USD/JPY analysis

DXY analysis

EUR/JPY, possibility

If the Yen continues and US Dollar bears remain reluctant to commit, we could see the above scenario play out.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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