{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usdjpy-may-continue-selling-pressure-as-it-faces-rejection-at-level-114-113\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usdjpy-may-continue-selling-pressure-as-it-faces-rejection-at-level-114-113\/","headline":"USDJPY: May Continue Selling Pressure as It Faces Rejection at Level $114.113","name":"USDJPY: May Continue Selling Pressure as It Faces Rejection at Level $114.113","description":"The pair is now showing a few bullish signs above the support level.A bullish scenario is playing out in the long term.USDJPY Weekly Price Analysis \u2013 October 29USDJPY is in a downward move as its price reaches the low of level $113.393.USDJPY MarketKey Levels:Resistance levels:\u00a0 $114.350, $114.400, $114.450Support levels:\u00a0 \u00a0 \u00a0 $109.010, $109.000, $108.980USDJPY Long-term […]","datePublished":"2021-10-29","dateModified":"2021-10-29","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\/2021\/10\/USDJPYLNT.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/10\/USDJPYLNT.png","height":598,"width":1079},"url":"https:\/\/forexschoolonline.com\/usdjpy-may-continue-selling-pressure-as-it-faces-rejection-at-level-114-113\/","about":["FX Technical Analysis","Trade Idea","Trade Setups","USD\/JPY"],"wordCount":344,"keywords":["Technical Analysis","U.S.Dollar Japanese Yen","USDJPY"],"articleBody":"The pair is now showing a few bullish signs above the support level.A bullish scenario is playing out in the long term.USDJPY Weekly Price Analysis \u2013 October 29USDJPY is in a downward move as its price reaches the low of level $113.393.USDJPY MarketKey Levels:Resistance levels:\u00a0 $114.350, $114.400, $114.450Support levels:\u00a0 \u00a0 \u00a0 $109.010, $109.000, $108.980USDJPY Long-term Trend: BullishAfter retesting the support level of $113.387 by the bears on the 27th of October, the bear’s gradual return yesterday at $113.255 in the support area returned the pair back within the range. A bearish doji candle at $113.566 opens today\u2019s daily chart in the support area, an indication of a trend reversal.Impulse move from the bears further drops the price of USDJPY down to $113.393 in the support area.USDJPY now trades above the EMA- 50 at the time of writing this article which indicates that the price is in an uptrend.Hence the stochastic signal pointing down at around level 30% in the oversold area suggests that the momentum in the price of USDJPY is in a downtrend and may likely continue in the same direction in the days ahead in the long term.USDJPY Medium-term Trend: BearishThe Yen is now finding its way down as the bears gradually stage a return to the market.After testing the support level at $113.797 in the support area during yesterday’s session, bears stage a return and pushed the price down to $113.512 in the support area before the end of yesterday\u2019s session.A bullish pin bar candle at $113.548 opens today\u2019s 4-hourly candle in the resistance area this signals a trend reversal hence bear\u2019s brief return with a spinning top bar drops the price down to $113.504 in the support area.With the price below the two EMAs and the stochastic signal down at around level 35% in the oversold region, suggests a downward momentum in the price of USDJPY in the medium-term perspective.Note:\u00a0Forexschoolonline.com\u00a0is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}