EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline down.
A bearish trend downwards to the next support line at 159.36800 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 160.06400 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Evening Star’ chart pattern is existing. The candles show ‘Evening Star’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.70500 |
| 2nd High | 160.33800 |
| Next High | 160.06400 |
| Current Price | 159.61900 |
| Next Low | 159.36800 |
| 2nd Low | 157.86000 |
| 3rd Low | 157.55500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Evening Star