EUR/USD and EUR/JPY Signaling Bullish Continuation

FXOpen

EUR/USD is rising steadily and trading nicely above the 1.1180 level. EUR/JPY is also gaining bullish momentum and it is likely to continue higher above 121.80.

Important Takeaways for EUR/USD and EUR/JPY

  • The Euro is trading in a positive zone above the 1.1100 and 1.1150 resistance levels.
  • There is a major bullish trend line forming with support near 1.1140 on the hourly chart of EUR/USD.
  • EUR/JPY surged higher and broke many key hurdles near the 121.00 resistance.
  • There is a key bullish trend line forming with support near 120.60 on the hourly chart.

EUR/USD Technical Analysis

After forming a strong support above 1.0900, the Euro started a strong increase against the US Dollar. The EUR/USD pair broke many hurdles near 1.1100 to move into a positive zone.

There was a close above the 1.1120 level and the 50 hourly simple moving average. The pair recently tested the 1.1200 zone and traded as high as 1.1201 on FXOpen. The current price action is positive and dips remain supported near 1.1180.

EUR/USD Technical Analysis Euro Dollar

The 23.6% Fib retracement level of the recent rally from the 1.1115 low to 1.1201 high is also near the 1.1180 level to act as a support. There is also a major bullish trend line forming with support near 1.1140 on the hourly chart of EUR/USD.

The trend line is close to the 1.1150 pivot level. The 50% Fib retracement level of the recent rally from the 1.1115 low to 1.1201 high could also provide support near the 1.1150 level and the 50 hourly simple moving average.

If the pair fails to stay above 1.1150 and 1.1140, it could revisit the 1.1100 support zone. On the upside, the pair is likely to continue higher above the 1.1200 resistance zone.

A successful close above the 1.1200 resistance could lift the pair towards the 1.1240 and 1.1250 levels. Any further gains may perhaps call for a test of the 1.1320 level in the near term.

EUR/JPY Technical Analysis

The Euro followed a strong bullish path above the 118.80 level against the Japanese Yen. The EUR/JPY pair broke many hurdles near 120.00 and 120.50 to move into a positive zone.

Besides, there was a close above the 121.00 level and the 50 hourly simple moving average. The pair traded as high as 121.80 and recently corrected a few points.

EUR/JPY Technical Analysis Euro Yen

There was a break below the 121.50 level. However, the pair remained well bid above the 23.6% Fib retracement level of the recent wave from the 119.42 low to 121.80 high.

On the downside, the first major support is seen near the 120.50 zone. The 50% Fib retracement level of the recent wave from the 119.42 low to 121.80 high is also near the 120.60 level.

Moreover, there is a key bullish trend line forming with support near 120.60 on the hourly chart. If the pair fails to stay above the trend line support, there is a risk of a larger decline below the 120.00 support in the coming sessions. The next major support is near the 118.80 level.

Conversely, EUR/JPY might continue to rise above the 121.80 and 122.00 levels. The next major resistance is near the 122.40 level, above which the bulls are likely to aim 123.50.

Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Stay ahead of the market!

Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.

forex

Forex Trading with FXOpen

Forex Trading with FXOpen

Experience ECN technology for deep liquidity and light-speed trade execution

  • Access over 50 markets
  • Trade with spreads from 0.0 pips
  • Take advantage of commissions from $1.50/lot
Learn more

Latest articles

Shares

Amazon (AMZN) Shares Retreat from All-Time High After Earnings Report

As shown in the Amazon (AMZN) stock chart, the price reached an all-time high of around $242 per share on 4 February. However, following the earnings report on 6 December, AMZN shares declined despite the company exceeding analysts' expectations:

→ Earnings

Analytical TRUMP Coin Price Predictions for 2025 and Beyond
Trader’s Tools

Analytical TRUMP Coin Price Predictions for 2025 and Beyond

TRUMP meme coin has captured the market’s attention, blending politics with cryptocurrencies. Launched in January 2025, its price has been highly volatile, driven by investor sentiment, regulatory shifts, and the President’s direct influence. This article explores TRUMP’s

Indices

Hang Seng Index Hits Four-Month High Amid DeepSeek’s Success

As shown in the Hang Seng (Hong Kong 50 on FXOpen) chart today, the index has risen above the 21,500 mark for the first time since October 2024.

According to Reuters, bullish sentiment is fuelled by optimism surrounding the

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.