EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline downwards
A bearish trend down to the next support at 159.80200 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 163.31300 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.42900 |
| 2nd High | 163.40100 |
| Next High | 163.31300 |
| Current Price | 161.73700 |
| Next Low | 159.80200 |
| 2nd Low | 159.63400 |
| 3rd Low | 159.10300 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing