EUR/JPY – 1H – SELLThe pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline downwards
A bearish trend down to the next support at 160.65800 is certain.
Caution: A possible counter-trend in the direction of resistance at 162.11200 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bearish Engulfing’ candlestick pattern is found. The candles show ‘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 | 164.75300 |
| 2nd High | 162.48600 |
| Next High | 162.11200 |
| Current Price | 162.03000 |
| Next Low | 160.65800 |
| 2nd Low | 159.10300 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing