EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at 162.83600 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 163.80500 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Falling Window’ candlestick pattern is detected. The chart forms ‘Falling Window’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Falling Window’ heading down is 67% (Bull Market) and 73% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.86400 |
| 2nd High | 164.54500 |
| Next High | 163.80500 |
| Current Price | 163.27100 |
| Next Low | 162.83600 |
| 2nd Low | 162.60100 |
| 3rd Low | 162.48800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Falling Window