{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eurjpy-pulls-back-seeks-to-continue-trading-along-an-upside-sloping-trendline\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eurjpy-pulls-back-seeks-to-continue-trading-along-an-upside-sloping-trendline\/","headline":"EURJPY Pulls Back, Seeks to Continue Trading Along an Upside-Sloping Trendline","name":"EURJPY Pulls Back, Seeks to Continue Trading Along an Upside-Sloping Trendline","description":"The EURJPY market has pulled back above a technical support level, even as the euro side of the market appears tranquil. Considering the market from a fundamental point of view, we can see that the market may have capitalized on dovish JPY. Key Price Levels: Resistance Levels: 163.20, 164.00, and 165.00 Support Levels: 163.00, 162.00, […]","datePublished":"2024-04-03","dateModified":"2024-04-03","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\/12\/euro-96289_1280.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/12\/euro-96289_1280.jpg","height":960,"width":1280},"url":"https:\/\/forexschoolonline.com\/eurjpy-pulls-back-seeks-to-continue-trading-along-an-upside-sloping-trendline\/","about":["EUR\/JPY","FX Technical Analysis","Technical Analysis"],"wordCount":287,"keywords":["eurjpy","Forex","Technical Analysis"],"articleBody":"The EURJPY market has pulled back above a technical support level, even as the euro side of the market appears tranquil. Considering the market from a fundamental point of view, we can see that the market may have capitalized on dovish JPY.Key Price Levels:Resistance Levels: 163.20, 164.00, and 165.00Support Levels: 163.00, 162.00, and 161.00EURJPY Maintains a Slightly Heightened Upside MomentumAlthough the EURJPY market has been generally ascending along an upside-sloping price channel, it could be perceived that the momentum seems to have increased considerably. However, the market could be seen to have retreated downwards after price action breached the 164.00 price level.Today’s session seems to have found support at the end of the Guppy Multiple Moving Average (GMMA) lines. Meanwhile, the Stochastic Relative Strength Index (SRSI) lines retain a generally bearish stance as they keep falling into the oversold region. Therefore, this market calls for more critical examination to avoid trading decisions based solely on speculation.Bullish Prowess Appears More Prominent in the EURJPY MarketConsistent with observations from the EURJPY daily market, the 4-hour market still shows that upside forces may still be advantageous. This market has consistently printed gains for the past two sessions. However, the ongoing session has brought just a minor correction off that path. Consequently, price action stands above the green GMMA lines.The SRSI indicator lines, however, have a rather sharp upside trajectory. While this might be a favorable indication for traders using bullish Forex signals in this market, the hyperactive nature of the SRSI lines calls for caution. By implication, this suggests that price action may still face rejection at the 164.00 mark.Do you want to take your trading to the next level? Join the best platform for that here."}