EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline down.
The bearish trend down to the next support level at 166.02800 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 167.05300 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.
Moreover a ‘Two Crows’ chart pattern is found. The candles show ‘Two Crows’. 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 probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 167.61300 |
| 2nd High | 167.58500 |
| Next High | 167.05300 |
| Current Price | 166.88400 |
| Next Low | 166.02800 |
| 2nd Low | 165.92400 |
| 3rd Low | 164.93400 |
167.05300 – 167.04700 – 167.58500 – 166.02800 – 166.32000 – 166.69900