{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eur-jpy-consolidates-below-level-134-00-a-breakout-is-likely\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eur-jpy-consolidates-below-level-134-00-a-breakout-is-likely\/","headline":"EUR\/JPY Consolidates below Level 134.00, a Breakout Is Likely","name":"EUR\/JPY Consolidates below Level 134.00, a Breakout Is Likely","description":"EUR\/JPY Long-Term Analysis: BullishEUR\/JPY pair is in an uptrend. The pair has been on the rise as price bars are above the moving averages. The uptrend has been fluctuating below level 1.3400 since May 27. Meanwhile, on April 30 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that EUR\/JPY […]","datePublished":"2021-06-03","dateModified":"2021-06-03","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\/2021\/06\/EURJPY-Forec-SCH.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/06\/EURJPY-Forec-SCH.png","height":602,"width":904},"url":"https:\/\/forexschoolonline.com\/eur-jpy-consolidates-below-level-134-00-a-breakout-is-likely\/","about":["Price Action Charts in Focus"],"wordCount":244,"keywords":["EUR\/JPY","Price Analysis"],"articleBody":"EUR\/JPY Long-Term Analysis: BullishEUR\/JPY pair is in an uptrend. The pair has been on the rise as price bars are above the moving averages. The uptrend has been fluctuating below level 1.3400 since May 27. Meanwhile, on April 30 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that EUR\/JPY will rise to level 2.0 Fibonacci extensions or the high of level 135.04. From the price action, the market has reached a high of level 133.85.EUR\/JPY Indicator Analysis EUR\/JPY is at level 68 of the Relative Strength Index period 14. It indicates that the pair is in the uptrend zone but it is approaching the overbought region at level 70. In the overbought region, sellers will emerge to push prices down. Therefore the pair is likely to fall. Further upward move is minimal. The 21-day and 50-day SMAs are sloping northward indicating the uptrend.EUR\/JPY – Daily Chart\u00a0Technical indicators: Major Resistance Levels \u2013 131.00, 132.000, 133.000Major Support Levels \u2013 128.000, 127.000, 126.000What Is the Next Direction for EUR\/JPY? EUR\/JPY pair is reaching bullish exhaustion. Since May 27, the pair has been consolidating below level 134.00. Meanwhile, On May 27 uptrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair will rise to level 1.272 Fibonacci extension or level 134.33.EUR\/JPY – 4 Hour ChartNote: Forexschoolonline.com is 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"}