EUR/JPY – 1H – SELLThe combination Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline down.
A bearish descent down to the next support line at 159.10300 is certain.
Caution: A possible change in the direction of the resistance zone at 160.54100 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ candlestick chart pattern is existing. The chart shows ‘Bearish Engulfing’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.00700 |
| 2nd High | 160.68900 |
| Next High | 160.54100 |
| Current Price | 161.29300 |
| Next Low | 159.10300 |
| 2nd Low | 158.64400 |
| 3rd Low | 157.86000 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing