{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eurjpy-bulls-turn-tail-after-failing-to-beat-the-164-00-resistance\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eurjpy-bulls-turn-tail-after-failing-to-beat-the-164-00-resistance\/","headline":"EURJPY Bulls Turn Tail After Failing to Beat the 164.00 Resistance","name":"EURJPY Bulls Turn Tail After Failing to Beat the 164.00 Resistance","description":"Price activity in the EURJPY has renewed bearish momentum after failing to continue its upside retracement through what seems like a very strong resistance at the 164.00 mark. Consequently, it seems like the bulls are out of breath and are taking a break to gather some. Let’s try to find out what may happen in […]","datePublished":"2023-12-06","dateModified":"2023-12-06","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\/07\/euro-money-currency-the-european-158776.jpeg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/07\/euro-money-currency-the-european-158776.jpeg","height":1255,"width":1880},"url":"https:\/\/forexschoolonline.com\/eurjpy-bulls-turn-tail-after-failing-to-beat-the-164-00-resistance\/","about":["EUR\/JPY","Forex","Price Action Charts in Focus","Technical Analysis"],"wordCount":301,"keywords":["Forex","Technical Analysis","trading"],"articleBody":"Price activity in the EURJPY has renewed bearish momentum after failing to continue its upside retracement through what seems like a very strong resistance at the 164.00 mark. Consequently, it seems like the bulls are out of breath and are taking a break to gather some. Let’s try to find out what may happen in this market.Key Price Levels:Resistance Levels: 158.52, 160.00, and 162.00Support Levels: 156.50, 155.00, and 154.00EURJPY Tears Down Support at the 159.00 MarkIn the daily EURJPY market, the pair’s sentiment seems to have turned sour, because the ongoing session has presented the biggest losses considering the length of the price candle representing it. This has brought the pair to revisit a once-excited price range mark.Furthermore, with price action hugging the lowest limit of the Bollinger Bands, it could be seen that the Moving Average Convergence Divergence (MACD) indicator suggests that the bears are gaining more strength. This could be seen as the last bar of the indicator has turned solid red in appearance and is below the equilibrium level. Consequently, this further strengthens bearish hopes in this market.Bulls Stay Pressured in the EURJPY MarketA minute upside correction can be noticed off the lowest limit of the Bollinger Bands indicator that has been applied on the EURJPY 4-hour market. Here, the last price candle looks quite similar to an inverted hammer price candle, only that its body seems too small. Also, it is still very close to the lowest band of the Bollinger Bands indicator.Likewise, the MACD lines can be seen converging for another bearish crossover below the equilibrium level. Consequently, this reveals that downward forces may renew their strength, thereby causing further downward correction towards the 155.40 mark.Do you want to take your trading to the next level? Join the best platform for that here\u00a0"}