{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eurjpy-eyes-technical-support-as-downward-forces-resume\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eurjpy-eyes-technical-support-as-downward-forces-resume\/","headline":"EURJPY Eyes Technical Support As Downward Forces Resume","name":"EURJPY Eyes Technical Support As Downward Forces Resume","description":"The EURJPY market has extended its downward retracement, largely due to increased demand for the Japanese yen, which appears more attractive to investors. This shift has created headwinds for the euro, which remains relatively lackluster in comparison. Key Price Levels: Resistance Levels: 165.00, 170.00, 175.00 Support Levels: 160.00, 155.00, 150.00 EURJPY Remains Within a Technical […]","datePublished":"2024-08-21","dateModified":"2024-08-21","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\/2024\/07\/gf.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/07\/gf.jpg","height":383,"width":612},"url":"https:\/\/forexschoolonline.com\/eurjpy-eyes-technical-support-as-downward-forces-resume\/","about":["EUR\/JPY","Forex","FX Technical Analysis","Trading"],"wordCount":214,"keywords":["eurjpy","Forex","Technical Analysis"],"articleBody":"The EURJPY market has extended its downward retracement, largely due to increased demand for the Japanese yen, which appears more attractive to investors. This shift has created headwinds for the euro, which remains relatively lackluster in comparison.Key Price Levels:Resistance Levels: 165.00, 170.00, 175.00Support Levels: 160.00, 155.00, 150.00EURJPY Remains Within a Technical LimitOver the past two sessions, the EURJPY market has continued to retrace to lower levels. Price action seems to have reversed upon hitting resistance at the 165.00 mark.This has pushed the market back below the middle band of the Bollinger Bands (BB) indicator. Likewise, the Stochastic Relative Strength Index (Stochastic RSI) lines are trending downward toward the 80 mark, indicating that price action may continue to decline toward lower levels.EURJPY Bulls Stage a Weak ResistanceOn the 4-hour chart, EURJPY price action has rebounded smoothly off the resistance at the middle band of the BB indicator. The ongoing session currently shows a dash-shaped green candle, indicating minimal price movement.Additionally, the Stochastic RSI has resumed a downward trajectory below the 50 level, suggesting that price action may soon test the 160.00 support level. This decline could accelerate if upcoming Japanese export and merchandise trade balance data surpass expectations.Do you want to take your trading to the next level? Join the best platform for that here."}