EUR/JPY – 4H – SELLBesides a ‘Double bottom retreat down’ chart layout is discovered. The chart picture forms ‘Double bottom retreat down’. which is a bearish pattern signal. The pair is likely to go down.
The currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline down.
A bearish descent downwards to the next support line at 172.45100 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 172.67 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Two Crows’ chart pattern is detected. The chart shows ‘Two Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 172.698 |
| Next High | 172.67 |
| Current Price | 172.61600 |
| Next Low | 172.45100 |
| 2nd Low | 171.112 |
| 3rd Low | 168.456 |
172.67 – 172.698 – 172.598 – 172.45100 – 171.112 – 168.456 — 53.690564321954 – 48.477052920201 — 31.412925566116 – 21.133472409703 – 30.333439287823 – 27.846365957563
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Two Crows – Double bottom retreat down – –