{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eurjpy-takes-a-dive\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eurjpy-takes-a-dive\/","headline":"EURJPY Takes a Dive","name":"EURJPY Takes a Dive","description":"The EURJPY market has come under strong headwinds, which have kept pushing the market lower. The mentioned headwind seems to have originated from a stronger-than-expected inflation figure and a hawkish comment from the BoJ’s governor. This hints that fewer interest rate cuts may occur soon. This has continued to drive the EURJPY market deeper. Let’s […]","datePublished":"2024-11-28","dateModified":"2024-11-28","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\/02\/euro.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/02\/euro.jpg","height":408,"width":612},"url":"https:\/\/forexschoolonline.com\/eurjpy-takes-a-dive\/","about":["EUR\/JPY","Forex","FX Technical Analysis","Technical Analysis","Trading"],"wordCount":303,"keywords":["eurjpy","Forex","Technical Analysis"],"articleBody":"The EURJPY market has come under strong headwinds, which have kept pushing the market lower. The mentioned headwind seems to have originated from a stronger-than-expected inflation figure and a hawkish comment from the BoJ’s governor. This hints that fewer interest rate cuts may occur soon. This has continued to drive the EURJPY market deeper. Let’s see where this may head shortly.Key Price Levels:Resistance Levels: 160.00, 165.00, 170.00Support Levels: 155.00, 150.00, 145.00 EURJPY Eyes the Next Technical Support LevelSince price action failed to surpass the 162 resistance level, the EURJPY market has since then been falling strongly. The previous session had moderate bearish momentum. The ongoing session has extended the trend with almost the same level of bearish momentum.Downward momentum seems favored as price action has fallen below all the Moving Average (MA) lines. What’s more, is that bears are looking more threatening as the MA lines are crossing over above price action. Likewise, the Stochastic Relative Strength Index lines are still in the oversold region and, as such, suggest that downward forces are still quite strong and may drive the market lower.EURJPY Market Continues to Fall HelplesslyPrice action, even in the EURJPY 4-hour market, can be seen still falling steeply downwards. For the past four sessions, price action has been below all the MA lines on the chart. The last price candle has appeared bearish on the chart, consequently hinting that downward forces are in charge.Also, the Stochastic RSI lines are still falling sharply into the oversold region. The last price candle on the chart has an upper shadow and, as such, suggests that headwinds are still acting in the market. Therefore, expect the downward retracement to continue towards the 158.00 mark.Do you want to take your trading to the next level? Join the best platform for that here. "}