{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-downtrend-as-it-faces-rejection-at-135-00\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-downtrend-as-it-faces-rejection-at-135-00\/","headline":"EUR\/JPY Is in a Downtrend as It Faces Rejection at 135.00","name":"EUR\/JPY Is in a Downtrend as It Faces Rejection at 135.00","description":"EUR\/JPY Long-Term Analysis: BearishEUR\/JPY pair is in a downtrend as it faces rejection at 135.00. For the past week, the bulls have been making frantic efforts to break above the moving averages. The upward move has been hindered by the resistance at the 21-day line SMA. Today, the upward move has been hindered by the […]","datePublished":"2022-05-20","dateModified":"2022-05-20","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\/05\/EURJPYDaily-Chart-3.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/05\/EURJPYDaily-Chart-3.png","height":575,"width":1052},"url":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-downtrend-as-it-faces-rejection-at-135-00\/","about":["EUR\/JPY","FX Technical Analysis","Price Action Charts in Focus"],"wordCount":268,"keywords":["EUR\/JPY","Price Analysis"],"articleBody":"EUR\/JPY Long-Term Analysis: BearishEUR\/JPY pair is in a downtrend as it faces rejection at 135.00. For the past week, the bulls have been making frantic efforts to break above the moving averages. The upward move has been hindered by the resistance at the 21-day line SMA. Today, the upward move has been hindered by the 50-day line SMA. The downtrend will resume if price breaks below the bullish trend line. On the other hand, the market will resume upward, if price breaks above the moving averages.EUR\/JPY Indicator Analysis The currency pair is at level 47 of the Relative Strength Index for period 14. The Yen is in the bearish zone and capable of a further downward move. The price bars are below the moving averages indicating a further downward move. The pair is above the 40% range of the daily stochastic. It indicates that the market is in bullish momentum. The 21-day line SMA and 50-day line SMA are sloping upward indicating the uptrend.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 is below the moving averages as it faces rejection at 135.00. There is a likelihood of a downtrend as the bulls fail to break above the moving averages. The pair will decline to the previous low at 129.75 if the bears break below the bullish trend line.EUR\/JPY – 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"}