{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eur-jpy-makes-upward-correction-targets-level-134-00\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eur-jpy-makes-upward-correction-targets-level-134-00\/","headline":"EUR\/JPY Makes Upward Correction, Targets Level 134.00","name":"EUR\/JPY Makes Upward Correction, Targets Level 134.00","description":"EUR\/JPY Long-Term Analysis: BearishSince August 20, EUR\/JPY has been correcting upward to resume an uptrend. The currency price has broken above the 21-day SMA but faces rejection at the 50-day SMA. A break above the moving averages will signal the resumption of the uptrend. However, rejection at the recent high will prolong the bearish trend. […]","datePublished":"2021-08-26","dateModified":"2021-08-26","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\/EURJPYDaily-Chart.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/08\/EURJPYDaily-Chart.png","height":571,"width":977},"url":"https:\/\/forexschoolonline.com\/eur-jpy-makes-upward-correction-targets-level-134-00\/","about":["EUR\/JPY","Trade Idea"],"wordCount":254,"articleBody":"EUR\/JPY Long-Term Analysis: BearishSince August 20, EUR\/JPY has been correcting upward to resume an uptrend. The currency price has broken above the 21-day SMA but faces rejection at the 50-day SMA. A break above the moving averages will signal the resumption of the uptrend. However, rejection at the recent high will prolong the bearish trend. 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 49 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The 21-day and 50-day SMA are sloping downward indicating the downtrend. EUR\/JPY is above the 80% range of the daily stochastic. It indicates that the currency pair has reached the overbought region.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 currency pair is in an uptrend. On August 23 uptrend. a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that EUR\/JPY will rise to level 1.618 Fibonacci extensions or level 129.84. From the price action, the pair has reach level 129.50 but it is facing rejection at the recent high.EUR\/JPY \u2013 4 Hour Chart Note: 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"}