EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline down.
A continuation of the downward movement downwards to the next support line at 169.86900 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 170.32900 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Tweezers Top’ candlestick chart pattern is discovered. The candles show ‘Tweezers Top’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 170.61000 |
| Next High | 170.32900 |
| Current Price | 170.15100 |
| Next Low | 169.86900 |
| 2nd Low | 169.84900 |
| 3rd Low | 169.51700 |
170.32900 – 170.61000 – 169.78600 – 169.86900 – 169.84900 – 169.51700
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Tweezers Top –