EUR/JPY – 4H – BUYThe pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline downwards
A bearish trend downwards to the next support at 160.89500 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 164.89900 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Two Crows’ candlestick chart pattern is detected. The candles show ‘Two Crows’. 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 likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 165.02900 |
| Next High | 164.89900 |
| Current Price | 164.11300 |
| Next Low | 160.89500 |
| 2nd Low | 159.80200 |
| 3rd Low | 158.64400 |