{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eur-jpy-reaches-overbought-region-struggles-below-level-137-00\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eur-jpy-reaches-overbought-region-struggles-below-level-137-00\/","headline":"EUR\/JPY Reaches Overbought Region, Struggles below Level 137.00","name":"EUR\/JPY Reaches Overbought Region, Struggles below Level 137.00","description":"EUR\/JPY Long-Term Analysis: BullishEUR\/JPY pair is in an uptrend as it struggles below Level 137.00. The price broke below the moving averages and later resumed above the moving averages. The pair will rise and retest level 140.00 price level. Meanwhile, on March 28 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The […]","datePublished":"2022-05-27","dateModified":"2022-05-27","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-4.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/05\/EURJPYDaily-chart-4.png","height":503,"width":1052},"url":"https:\/\/forexschoolonline.com\/eur-jpy-reaches-overbought-region-struggles-below-level-137-00\/","about":["EUR\/JPY","FX Technical Analysis","Price Action Charts in Focus"],"wordCount":262,"keywords":["EUR\/JPY","Price Analysis"],"articleBody":"EUR\/JPY Long-Term Analysis: BullishEUR\/JPY pair is in an uptrend as it struggles below Level 137.00. The price broke below the moving averages and later resumed above the moving averages. The pair will rise and retest level 140.00 price level. Meanwhile, on March 28 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that EUR\/JPY will rise to level 1.272 Fibonacci extension or level 140.62. From the price action, the pair has broken above the moving averages to revisit the previous highs. EUR\/JPY Indicator Analysis The currency pair is at level 53 of the Relative Strength Index for period 14. The Yen is in the bullish trend zone and capable of a further upward move. The price bars are above the moving averages indicating a further upward move. The pair is above the 80% range of the daily stochastic. The Yen is approaching the overbought region. The uptrend is reaching bullish exhaustion. 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 has been in an upward move as it struggles below Level 137.00. The upward move is facing rejection at the 137.00 resistance zone. For the past week, buyers have not been able to push the pair above the recent high.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"}