EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline downwards
A bearish trend downwards to the next support line at 162.36700 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 163.11300 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.80500 |
| 2nd High | 163.50600 |
| Next High | 163.11300 |
| Current Price | 162.98700 |
| Next Low | 162.36700 |
| 2nd Low | 161.62200 |
| 3rd Low | 161.38200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing