EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline down.
A bearish movement downwards to the next support at 159.36800 will continue.
Caution: A possible change in the direction of the resistance zone at 160.06400 could happen.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Engulfing’ candlestick pattern is detected. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.70500 |
| 2nd High | 160.33800 |
| Next High | 160.06400 |
| Current Price | 159.91100 |
| Next Low | 159.36800 |
| 2nd Low | 157.86000 |
| 3rd Low | 157.55500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing