EUR/JPY – 4H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline downwards
A descent downwards to the next support at 159.80200 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 164.75300 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Harami’ candlestick pattern is detected. The candles show ‘Bearish Harami’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 165.02900 |
| Next High | 164.75300 |
| Current Price | 164.66700 |
| Next Low | 159.80200 |
| 2nd Low | 158.64400 |
| 3rd Low | 157.86000 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Harami