{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eurjpy-hits-a-strong-barrier-at-the-160-00-threshold\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eurjpy-hits-a-strong-barrier-at-the-160-00-threshold\/","headline":"EURJPY Hits a Strong Barrier at the 160.00 Threshold","name":"EURJPY Hits a Strong Barrier at the 160.00 Threshold","description":"The EURJPY pair recently recovered above the 157.73 level. However, that upside retracement has been limited to below the 160 threshold. This seems due to the neutral stance concerning interest rate alterations of policymakers on the other side of the Atlantic due to inflation concerns. Key Price Levels: Resistance Levels: 160.00, 165.00, 170.00 Support Levels: […]","datePublished":"2024-12-11","dateModified":"2024-12-11","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\/04\/jan-yen.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/04\/jan-yen.jpg","height":408,"width":612},"url":"https:\/\/forexschoolonline.com\/eurjpy-hits-a-strong-barrier-at-the-160-00-threshold\/","about":["EUR\/JPY","Forex","FX Technical Analysis","Technical Analysis"],"wordCount":304,"keywords":["eurjpy","Forex","trading"],"articleBody":"The EURJPY pair recently recovered above the 157.73 level. However, that upside retracement has been limited to below the 160 threshold. This seems due to the neutral stance concerning interest rate alterations of policymakers on the other side of the Atlantic due to inflation concerns.Key Price Levels:Resistance Levels: 160.00, 165.00, 170.00Support Levels: 155.00, 150.00, 145.00EURJPY Bulls Still Facing an Uphill TaskDespite the previous upside retracement in the EURJPY market, available indications suggest that price action is still vulnerable. Likewise, today’s trading so far has recorded a downward retracement off the technical resistance at the 160.00 mark.This seems threatening as price action remains below all the Moving Average (MA) lines. In addition, the Stochastic Relative Strength Index (RSI) lines can be seen to have risen into the overbought region due to price movement over the previous session. However, the closeness of the indicator lines suggests that volatility is moderate and price action may proceed downward at a slower pace.EURJPY Downward Retracement Eyes a Nearby SupportThe seen downward retracement on the EURJPY daily chart has been further expounded on the 4-hour chart. Here, it could be seen that the downward retracement has spanned roughly 12 hours. However, price action here has risen above the 20- and 50-day MA lines.The lines of this indicator can be seen to have delivered a crossover below the price action, but the 160 resistance level stays unbroken. As a result, price action has turned downward towards these MA lines as a support. The Stochastic RSI lines are still above the 70 thresholds of the indicator but have a downward trajectory as well. Therefore, traders can anticipate that the 20-day MA line (159.24) may provide some form of support for the market to revisit the 160.00 resistance level.Do you want to take your trading to the next level? Join the best platform for that here.\u00a0"}