EUR/JPY Price Analysis: There is a strong Fibonacci confluence zone ahead

  • EUR/JPY is trading 0.64% higher as the EUR performs well on Monday. 
  • There is a strong resistance zone above the current price level at 122.00.

EUR/JPY 4-hour chart

EUR/JPY has pushed higher on the first trading day of the week and is one of the best performing FX pairs. The last 4-hour candle looks like it could be a rejection signal as its a shooting star. If the price does move higher, there is a key level close to the psychological 122.00 figure. The red rectangle area marks where the 50% Fibonacci retracement and golden 161.8% ratio extension meet. This could be a key area if the price ignores the bearish candle signal and moves higher.

The price has now made a higher low higher high pattern, so there could be another move higher coming soon. The 120.00 area was used as a nice support zone, and in the future, if there is to be a move lower, it could be used again. 

The Relative Strength Index indicator is very close to the overbought area. This could mean there might be a small pullback, but the fact that there is still some space to the upside would be encouraging for the bulls. The MACD is also looking bullish as the histogram is green and the signal lines are above the mid-line. 

The area to beat is the high on the chart of 124 43. If the resistance level is broken, then the uptrend could continue and the market could be looking for levels on the higher timeframes. 

EUR/JPY Fibonacci Analysis

Additional levels


Today last price 121
Today Daily Change 0.76
Today Daily Change % 0.63
Today daily open 120.24
Daily SMA20 121.15
Daily SMA50 118.55
Daily SMA100 118.76
Daily SMA200 119.61
Previous Daily High 120.38
Previous Daily Low 119.82
Previous Weekly High 121.1
Previous Weekly Low 119.32
Previous Monthly High 119.9
Previous Monthly Low 114.43
Daily Fibonacci 38.2% 120.03
Daily Fibonacci 61.8% 120.16
Daily Pivot Point S1 119.91
Daily Pivot Point S2 119.58
Daily Pivot Point S3 119.35
Daily Pivot Point R1 120.48
Daily Pivot Point R2 120.71
Daily Pivot Point R3 121.04



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.


GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.


XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI drops to fresh weekly lows below $39 amid virus risks, IEA forecast

WTI (August futures on Nymex) extends the steep declines seen on Thursday to drops over 1.50% in the European session this Friday. The oil bears breach the 39 level to hit the lowest levels in eight days at 38.76.

Oil News