{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eurjpy-price-action-looks-trapped-between-a-narrow-range-of-158-70-and-159-90\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eurjpy-price-action-looks-trapped-between-a-narrow-range-of-158-70-and-159-90\/","headline":"EURJPY Price Action Looks Trapped Between a Narrow Range of 158.70 and 159.90","name":"EURJPY Price Action Looks Trapped Between a Narrow Range of 158.70 and 159.90","description":"In the meantime, the EURJPY pair continues to trade between a very narrow price range of 158.70 and 159.90. Although very weak for now, there are indications that price action may bounce off the support at the 158.70 price mark soon. Major Price Levels: Resistance Levels: 158.71, 160.00, and 161.00 Support Levels: 157.00, 156.00, and […]","datePublished":"2023-08-23","dateModified":"2023-08-23","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\/2015\/06\/Fotolia_56087239_XS.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2015\/06\/Fotolia_56087239_XS.jpg","height":283,"width":424},"url":"https:\/\/forexschoolonline.com\/eurjpy-price-action-looks-trapped-between-a-narrow-range-of-158-70-and-159-90\/","about":["EUR\/JPY","FX Technical Analysis","Trading"],"wordCount":250,"keywords":["eurjpy","Forex","Technical Analysis"],"articleBody":"In the meantime, the EURJPY pair continues to trade between a very narrow price range of 158.70 and 159.90. Although very weak for now, there are indications that price action may bounce off the support at the 158.70 price mark soon.Major Price Levels:Resistance Levels: 158.71, 160.00, and 161.00Support Levels: 157.00, 156.00, and 155.00EURJPY Is Testing the Support at 158.70The EURJPY pair has just touched down on a significant price support level of 158.70. This price level is important because it will determine if bears will be able to cause a further downward correction below the 155.00 threshold or not. However, the lines of the Moving Average Convergence Divergence (MACD) indicator have previously approached a downward crossover but seem to have managed to abort it. Consequently, this hints that an upside rebound may occur above the support formed by the 9-day Smooth Moving Average (SMA) curve.EURJPY Market Looks Very Unstable but Has Upside ProspectsThe 4-hour EURJPY market is showing that price movements are unstable. This can be seen through the wide gaps between each price candle on this market chart. Also, a dashed-shaped price candle has just appeared above the 9- and 21-day SMA curves. In addition, the lines of the MACD have managed to cross above the equilibrium level in this market condition, while the indicator’s last bar has just turned pale green. Technically, market signs here are presenting 65% chance of price rebounding towards the 160 mark.Do you want to take your trading to the next level? Join the best platform for that here."}