EUR/JPY – 1H – SELLThe currency pair moves from the ascending trendline downwards
A descent downwards to the next support line at 159.22900 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 161.66400 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is expected. Current target is 161.044736 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support zone at 161.66400 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.88900 |
| 2nd High | 162.79500 |
| Next High | 161.66400 |
| Current Price | 159.41100 |
| Next Low | 159.22900 |
| 2nd Low | 159.04000 |
| 3rd Low | 158.41700 |