EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline downwards
A bearish movement downwards to the next support at 162.84100 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 163.59100 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candle pattern is found. 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 probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.65900 |
| 2nd High | 163.61600 |
| Next High | 163.59100 |
| Current Price | 163.19900 |
| Next Low | 162.84100 |
| 2nd Low | 162.50700 |
| 3rd Low | 162.33800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing