{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eur-jpy-exhausts-selling-pressure-consolidates-above-level-131-86\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eur-jpy-exhausts-selling-pressure-consolidates-above-level-131-86\/","headline":"EUR\/JPY Exhausts Selling Pressure, Consolidates Above Level 131.86","name":"EUR\/JPY Exhausts Selling Pressure, Consolidates Above Level 131.86","description":"EUR\/JPY Long-Term Analysis: BullishSince October 21, the EUR\/JPY pair has been retracing after rejection from the high of level 133.00. The pair retraced to the low of level 131.86 and resumed consolidation above the current support. Since October 25, the market has been consolidating above it. The selling pressure has subsided as the market fluctuates […]","datePublished":"2021-10-28","dateModified":"2021-10-28","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\/2021\/10\/EURJPYDaily-Chart-2.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/10\/EURJPYDaily-Chart-2.png","height":548,"width":1079},"url":"https:\/\/forexschoolonline.com\/eur-jpy-exhausts-selling-pressure-consolidates-above-level-131-86\/","about":["EUR\/JPY","FX Technical Analysis","Price Action Charts in Focus"],"wordCount":261,"keywords":["EUR\/JPY","Price Analysis"],"articleBody":"EUR\/JPY Long-Term Analysis: BullishSince October 21, the EUR\/JPY pair has been retracing after rejection from the high of level 133.00. The pair retraced to the low of level 131.86 and resumed consolidation above the current support. Since October 25, the market has been consolidating above it. The selling pressure has subsided as the market fluctuates above level 131.86 price level. A new uptrend is likely to resume.EUR\/JPY Indicator Analysis EUR\/JPY is at level 57 of the Relative Strength Index period 14. It indicates that the pair is in the bullish trend zone as it is capable of a further upward move. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend. EUR\/JPY is above the 25% range of the daily stochastic. The stochastic bands are sloping horizontally indicating the sideways move.EUR\/JPY – Daily ChartTechnical indicators: Major Resistance Levels \u2013 133.00, 134.000, 135.000Major Support Levels \u2013 128.000, 127.000, 126.000What Is the Next Direction for EUR\/JPY? On the 4-hour chart, the pair has been in a downward move. The selling pressure has been exhausted as the market resumes sideways move above the current support. Meanwhile, on October 20 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that EUR\/JPY price will fall to level 2.0 Fibonacci extension or level 131.99. From the price action, the pair has tested the Fibonacci level and it is fluctuating above it.EUR\/JPY \u2013 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"}