Sell EUR/JPY – 1H – SELL

The currency pair Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline downwards

The bearish trend down to the next support line at 162.36700 is considered certain.

Caution: A possible reversal of the trend in the direction of resistance at 163.50600 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Bearish Harami’ chart pattern is discovered. The candles show ‘Bearish Harami’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).

Support & Resistance Price Range*
3rd High 164.54500
2nd High 163.80500
Next High 163.50600
Current Price 162.95900
Next Low 162.36700
2nd Low 161.38200
3rd Low 160.89500

Download EUR/JPY Signal Image

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