EUR/JPY – 1H – SELLThe pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline downwards
A descent downwards to the next support line at 161.38200 is expected.
Caution: A possible trend reversal in the direction of resistance at 164.89900 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bearish SBS White Lines’ candlestick pattern is existing. The chart shows ‘Bearish SBS White Lines’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 165.02900 |
| Next High | 164.89900 |
| Current Price | 164.11300 |
| Next Low | 161.38200 |
| 2nd Low | 160.89500 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish SBS White Lines