{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-downtrend-pauses-above-level-129-00\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-downtrend-pauses-above-level-129-00\/","headline":"EUR\/JPY Is in a Downtrend, Pauses above Level 129.00","name":"EUR\/JPY Is in a Downtrend, Pauses above Level 129.00","description":"EUR\/JPY Long-Term Analysis: BearishThe currency pair is in a downward move. Since July 19, the EUR\/JPY pair fell to level 129.00 low and resumed consolidation above it. The selling pressure will resume if price breaks below the current support. The pair is fluctuating above the current support but faces rejection at the 21-day SMA. Meanwhile, […]","datePublished":"2021-08-12","dateModified":"2021-08-12","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\/08\/EURJPY-FOREX-SCH.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/08\/EURJPY-FOREX-SCH.png","height":554,"width":993},"url":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-downtrend-pauses-above-level-129-00\/","about":["Price Action Charts in Focus"],"wordCount":288,"keywords":["EUR\/JPY","Price Analysis"],"articleBody":"EUR\/JPY Long-Term Analysis: BearishThe currency pair is in a downward move. Since July 19, the EUR\/JPY pair fell to level 129.00 low and resumed consolidation above it. The selling pressure will resume if price breaks below the current support. The pair is fluctuating above the current support but faces rejection at the 21-day SMA. Meanwhile, on June 21 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.0 Fibonacci extensions or level 126.07. EUR\/JPY Indicator Analysis EUR\/JPY has fallen to level 44 of the Relative Strength Index period 14. It indicates that the pair is in the downtrend zone and below the centerline 50. The 21-day and 50-day SMA are sloping downward indicating the downtrend. The pair has a bearish crossover. That is, the 21-day SMA crossing below the 50-day SMA indicates a sell order. The pair is above the 80% range of the daily stochastic. It indicates that the market is in a bearish momentum.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 pair is in a downward move since June 11. On the 4 Hour Chart, the pair fell to the level 129.00 support but the bears could not break the support level. Today, the bears are attempting to break the support for the third time. Meanwhile, on August 3 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that EUR\/JPY will decline to level 2.0 Fibonacci extensions or level 128.12.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"}