{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-downtrend-consolidates-above-level-128-40\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-downtrend-consolidates-above-level-128-40\/","headline":"EUR\/JPY Is in a Downtrend, Consolidates above Level 128.40","name":"EUR\/JPY Is in a Downtrend, Consolidates above Level 128.40","description":"EUR\/JPY Long-Term Analysis: BearishEUR\/JPY pair is in a downward move as price consolidates above level 128.40. As price breaks below the previous low, the selling pressure may extend to the previous low at level 127.38. The previous low has been holding since August 21. The uptrend will resume if price finds support at the previous […]","datePublished":"2022-01-27","dateModified":"2022-01-27","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\/2022\/01\/EURJPY_Daily-Chart.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/01\/EURJPY_Daily-Chart.png","height":548,"width":987},"url":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-downtrend-consolidates-above-level-128-40\/","about":["EUR\/JPY","FX Technical Analysis","Price Action Charts in Focus"],"wordCount":229,"keywords":["EUR\/JPY","Price Analysis"],"articleBody":"EUR\/JPY Long-Term Analysis: BearishEUR\/JPY pair is in a downward move as price consolidates above level 128.40. As price breaks below the previous low, the selling pressure may extend to the previous low at level 127.38. The previous low has been holding since August 21. The uptrend will resume if price finds support at the previous low.EUR\/JPY Indicator Analysis EUR\/JPY is at level 40 of the Relative Strength Index for period 14. The pair is in the downtrend zone and below the centerline 50. The currency pair tends to fall. EUR\/JPY is below the 50% range of the daily stochastic. The pair is in a bearish momentum. The currency price is between the moving averages indicating a possible fall.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? EUR\/JPY is in a sideways trend as price consolidates above level 128.40. Presently, the pair is falling to the downside. The EURO has fallen but it is consolidating above level 128.40. Meanwhile, on January 14, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that EUR\/JPY will fall to level 2.0 Fibonacci extension or level 128.09.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"}