{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-an-upward-move-reaches-overbought-region\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-an-upward-move-reaches-overbought-region\/","headline":"EUR\/JPY Is in an Upward Move, Reaches Overbought Region","name":"EUR\/JPY Is in an Upward Move, Reaches Overbought Region","description":"EUR\/JPY Long-Term Analysis: BearishEUR\/JPY pair is in a downward move. The currency pair is retesting level 128.00 to resume a downward move. The pair is expected to decline to level 126.00. If the bears are successful, the selling pressure will resume. The uptrend will resume if the current support holds and price breaks above the […]","datePublished":"2021-09-23","dateModified":"2021-09-23","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\/2021\/09\/EURJPYDaily-Chart-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/09\/EURJPYDaily-Chart-1.png","height":586,"width":977},"url":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-an-upward-move-reaches-overbought-region\/","about":["EUR\/JPY"],"wordCount":282,"keywords":["EUR\/JPY","Price Analysis"],"articleBody":"EUR\/JPY Long-Term Analysis: BearishEUR\/JPY pair is in a downward move. The currency pair is retesting level 128.00 to resume a downward move. The pair is expected to decline to level 126.00. If the bears are successful, the selling pressure will resume. The uptrend will resume if the current support holds and price breaks above the moving averages. Meanwhile, on June 22 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that EUR\/JPY will fall to level 2.0 Fibonacci extension or level 126.02. EUR\/JPY Indicator Analysis The currency pair is at level 39 of the Relative Strength Index period 14. It indicates that the market is in the downtrend zone and below the centerline 50. The pair is capable of falling on the downside. The 21-day and 50-day SMA are sloping downward indicating the downtrend. The market is above the 75% range of the daily stochastic. It indicates that the currency pair is in a bullish momentum and approaching 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? EUR\/JPY is in a downward move. The currency price is making a series of lower highs and lower lows. The pair can resume an uptrend if price breaks above the moving averages and the bullish momentum is sustained. Today, the market is rising and approaching the overbought region. It is possible EUR\/JPY will face rejection at the 21-day SMA and the downtrend will resume.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"}