EUR/JPY's Key Fibonacci Resistance Level

Technical Reports

Steep recoil from 127.85 indicates conclusion of the drop from 130.86. The increase from 124.89 keeps extending. Breach of 129.97 will align 130.86. Following pivot points include: (S1) 128.11; (P) 128.59; (R1) 129.32.

Breach will argue bullishness and head towards 132.56 key fibonacci resistance. Break of 127.85 will prolong the decline from 130.86.

EUR/JPY recoiled before the key resistance turned support of 124.08. The cross also remained over long term trend line from 109.03. The increase from 109.03 might still be progressing. Strong breach of 61.8% retracement of 137.49 to 124.61 at 132.56 will align repeat test of 137.49 maximum. Sustained breach of 124.08 will suggest ending of the intact lift from 109.03 at 137.49. Larger fall will head towards 61.8% retracement of 109.03 to 137.49 at 119.90.