EUR/JPY – 1H – SELLThe combination Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline downwards
A continuation of the downward movement down to the next support line at 182.079 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 183.739 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘StochRSI %K line crosses below %D line’ indicator layout is detected. The indicator is ‘StochRSI %K line crosses below %D line’. this is usually a bearish signal. The currency pair could go down.
And also a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair is likely to fall.
And also a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles form ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 186.869 |
| 2nd High | 183.766 |
| Next High | 183.739 |
| Current Price | 183.43700 |
| Next Low | 182.079 |
| 2nd Low | 181.783 |
| 3rd Low | 181.565 |
183.739 – 183.572 – 183.766 – 182.079 – 182.57 – 182.099 —
183.31100 – 183.69600 —
52.790891953837 – 59.058497631174 —
– —
183.73900 – 1769677200
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing – – – – – – – – –