EUR/JPY – 1H – SELLThe pair Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline downwards
A bearish descent down to the next support line at 183.178 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 184.333 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Shooting Star’ candlestick pattern is existing. The candles show ‘Shooting Star’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 184.768 |
| 2nd High | 184.689 |
| Next High | 184.333 |
| Current Price | 183.93100 |
| Next Low | 183.178 |
| 2nd Low | 182.045 |
| 3rd Low | 181.866 |
184.333 – 183.827 – 183.573 – 183.178 – 182.045 – 182.978 —
184.08400 – 183.98300 —
57.374342730916 – 53.946824638187 —
– —
184.333 – 1774238400
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Shooting Star – – – – – – – – –