{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eur-jpy-correction-seems-over\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eur-jpy-correction-seems-over\/","headline":"EUR\/JPY Correction Seems Over!","name":"EUR\/JPY Correction Seems Over!","description":"EUR\/JPY is trading in the green at 132.00 psychological level but further growth is still uncertain. The rate challenges strong immediate resistance levels, so we have to wait for a valid breakout before looking for new long opportunities. The pair was into a corrective phase but the price action signaled that the downside movement could […]","datePublished":"2021-11-04","dateModified":"2021-11-04","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/olimpiu-tuns\/#Person","name":"Olimpiu Tuns","url":"https:\/\/forexschoolonline.com\/author\/olimpiu-tuns\/","identifier":19876,"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:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2021\/04\/20200303_154346-1.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2021\/04\/20200303_154346-1.png","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\/11\/EURJPY_2021-11-03_17-07-39.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/11\/EURJPY_2021-11-03_17-07-39.png","height":868,"width":1834},"url":"https:\/\/forexschoolonline.com\/eur-jpy-correction-seems-over\/","about":["EUR\/JPY"],"wordCount":214,"keywords":["eurjpy","Trade Setup"],"articleBody":"EUR\/JPY is trading in the green at 132.00 psychological level but further growth is still uncertain. The rate challenges strong immediate resistance levels, so we have to wait for a valid breakout before looking for new long opportunities.The pair was into a corrective phase but the price action signaled that the downside movement could be over. The Euro tries to appreciate after the Euro-zone Unemployment Rate dropped from 7.5% to 7.4% matching expectations. The Spanish Unemployment Change was reported at -0.7K, while the Italian Monthly Unemployment Rate dropped unexpectedly from 9.3% to 9.2%.EUR\/JPY Technical Analysis!EUR\/JPY is pressuring the 132.08 weekly pivot point and the upper median line of the descending pitchfork. Making a valid breakout through this confluence area could activate further growth.It has found support at the 38.2% retracement level failing to reach and retest the channel\u2019s downside line. The upside pressure is high after failing to stabilize under 131.57 and after making a bullish engulfing.A valid breakout through the downtrend line could announce an upside continuation. Jumping and stabilizing above the downtrend line could bring new buying opportunities. Note: ForexSchoolOnline 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."}