EUR/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 162.446 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support zone at 163.40100 should be noted.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish Harami’ candlestick chart pattern is discovered. The candles show ‘Bearish Harami’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.86400 |
| 2nd High | 163.42900 |
| Next High | 163.40100 |
| Current Price | 162.91200 |
| Next Low | 162.44600 |
| 2nd Low | 162.33800 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Harami