EUR/JPY – 4H – BUYThe pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline down.
A bearish trend downwards to the next support line at 159.80200 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 163.79700 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Below The Stomach’ candlestick chart pattern is existing. The chart shows ‘Below The Stomach’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Below The Stomach’ heading down is 60% (Bull Market) & 65% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.75300 |
| Next High | 163.79700 |
| Current Price | 162.69800 |
| Next Low | 159.80200 |
| 2nd Low | 158.64400 |
| 3rd Low | 157.86000 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Below The Stomach