{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-bearish-double-top-as-it-declines-to-level-135-54\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-bearish-double-top-as-it-declines-to-level-135-54\/","headline":"EUR\/JPY Is in a Bearish Double Top as It Declines to Level 135.54","name":"EUR\/JPY Is in a Bearish Double Top as It Declines to Level 135.54","description":"EUR\/JPY Long-Term Analysis: BearishEUR\/JPY pair is in a downtrend as it declines to level 135.54 . The currency pair has resumed a downward move after the formation of bearish double top. Buyers attempted to keep the price above level 144.00 overhead resistance but could not. The bullish moves were repelled on June 9 and 23. […]","datePublished":"2022-07-09","dateModified":"2022-07-09","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/07\/EURJPYDaily-Chart-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/07\/EURJPYDaily-Chart-1.png","height":536,"width":1048},"url":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-bearish-double-top-as-it-declines-to-level-135-54\/","about":["EUR\/JPY","Price Action Charts in Focus"],"wordCount":263,"keywords":["EUR\/JPY","Price Analysis"],"articleBody":"EUR\/JPY Long-Term Analysis: BearishEUR\/JPY pair is in a downtrend as it declines to level 135.54 . The currency pair has resumed a downward move after the formation of bearish double top. Buyers attempted to keep the price above level 144.00 overhead resistance but could not. The bullish moves were repelled on June 9 and 23. As price breaks below the moving average lines, the Yen is capable of a further downward moveEUR\/JPY Indicator Analysis EUR\/JPY is at level 42 of the Relative Strength Index for period 14. The pair is trading now in the downtrend zone after the formation of the bearish double top. The currency price bars are below the moving averages indicating a further decline. The Yen is above the 70% range of the daily stochastic. The market has resumed bullish momentum as it approaches the overbought region.EUR\/JPY – Daily ChartTechnical indicators: Major Resistance Levels \u2013 133.00, 134.000, 135.000Major Support Levels \u2013 128.000, 127.000, 126.000What Is the Next Direction for EUR\/JPY?The currency pair has broken below the moving average lines as it declines to level 135.54. The pair is rising after the recent breakdown to retest the 21-day line SMA. The selling pressure will resume if the pair turns from the moving average lines. Meanwhile, on the July 1 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement suggests that Yen will fall and reach level 2.0 Fibonacci extension or level 135.54.EUR\/JPY \u2013 4 Hour ChartNote: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results"}