{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-downtrend-targets-level-127-83\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-downtrend-targets-level-127-83\/","headline":"EUR\/JPY Is in a Downtrend, Targets Level 127.83","name":"EUR\/JPY Is in a Downtrend, Targets Level 127.83","description":"EUR\/JPY Long-Term Analysis: BearishEUR\/JPY has been in a downward move. Today, the pair has fallen to the low of level 128.94. The currency price has broken below the previous level of 128.00 as the market continues the downward move. Meanwhile, on June 21 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The […]","datePublished":"2021-08-19","dateModified":"2021-08-19","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_Daily-Chart-AUGUST-19-.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/08\/EURJPY_Daily-Chart-AUGUST-19-.png","height":571,"width":993},"url":"https:\/\/forexschoolonline.com\/eur-jpy-is-in-a-downtrend-targets-level-127-83\/","about":["EUR\/JPY"],"wordCount":255,"keywords":["EUR\/JPY","Price Analysis"],"articleBody":"EUR\/JPY Long-Term Analysis: BearishEUR\/JPY has been in a downward move. Today, the pair has fallen to the low of level 128.94. The currency price has broken below the previous level of 128.00 as the market continues the downward move. 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 125.93. EUR\/JPY Indicator Analysis The pair has fallen to level 36 of the Relative Strength Index period 14. It indicates that the pair is approaching the oversold region. The 21-day and 50-day SMA s are sloping downward indicating the downtrend. EUR\/JPY is below the 50% range of the daily stochastic. It indicates that the market is in a bearish momentum. The pair will continue to fall on the downside.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? The market has been in a downward move. The pair is likely to continue the selling pressure to the low of level 127.00. On the 4 Hour Chart, the pair fell. 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 127.83. From the price action, the market is approaching the Fibonacci extension.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"}