EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline down.
A descending movement downwards to the next support line at 162.67500 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 163.31300 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Outside Down’ candlestick pattern is discovered. The candles show ‘Three Outside Down’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.42900 |
| 2nd High | 163.40100 |
| Next High | 163.31300 |
| Current Price | 162.36500 |
| Next Low | 162.67500 |
| 2nd Low | 162.61000 |
| 3rd Low | 162.44600 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Down