EUR/JPY – 1H – SELLThe combination moves from the ascending trendline downwards
A descent downwards to the next support at 162.09900 is expected.
Caution: A possible change in the direction of the resistance level at 163.59700 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 162.453944 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support line at 163.59700 could happen.
In the case of a trade, always set appropriate stop-loss settings.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 163.60300 |
| Next High | 163.59700 |
| Current Price | 162.66400 |
| Next Low | 162.09900 |
| 2nd Low | 161.90100 |
| 3rd Low | 161.00600 |