{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eur-jpy-resumes-selling-pressure-as-it-faces-rejection-at-level-138-00\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eur-jpy-resumes-selling-pressure-as-it-faces-rejection-at-level-138-00\/","headline":"EUR\/JPY Resumes Selling Pressure as It Faces Rejection at Level 138.00","name":"EUR\/JPY Resumes Selling Pressure as It Faces Rejection at Level 138.00","description":"EUR\/JPY Long-Term Analysis: BearishEUR\/JPY pair is in a downward correction as it faces rejection at level 138.00. On\u00a0 August 9 uptrend, the bulls failed to break the 21-day line SMA. The currency pair pulled back and resumed fluctuation below the recent high. Meanwhile, on August 2, a retraced candle body tested the 61.8% Fibonacci retracement. […]","datePublished":"2022-08-15","dateModified":"2022-08-15","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\/08\/EURJPYDaily-Chart.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/08\/EURJPYDaily-Chart.png","height":545,"width":1079},"url":"https:\/\/forexschoolonline.com\/eur-jpy-resumes-selling-pressure-as-it-faces-rejection-at-level-138-00\/","about":["EUR\/JPY","FX Technical Analysis","Price Action Charts in Focus"],"wordCount":228,"articleBody":"EUR\/JPY Long-Term Analysis: BearishEUR\/JPY pair is in a downward correction as it faces rejection at level 138.00. On\u00a0 August 9 uptrend, the bulls failed to break the 21-day line SMA. The currency pair pulled back and resumed fluctuation below the recent high. Meanwhile, on August 2, a retraced candle body tested the 61.8% Fibonacci retracement. The retracement suggests that EUR\/JPY will fall to level 1.618 Fibonacci extension or level 128.81. In the meantime, the Yen is trading at 136.89 at the time of writing.EUR\/JPY Indicator Analysis The currency pair is at level 44 of the Relative Strength Index for period 14. It indicates that the Yen is in the downtrend zone and may decline. The Yen is above the 40% range of the daily stochastic. The market is in a bullish momentum. The 50-day line SMA and the 21-day line SMA are sloping southward indicating the downtrend.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 an upward correction as it faces rejection at level 138.00. The pair is facing rejection at level 138.00. The Yen has continued itd downward move as price broke below moving average lines.Note: 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"}