EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 163.15500 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 163.92700 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candlestick pattern is existing. The candles form ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.75300 |
| Next High | 163.92700 |
| Current Price | 163.46600 |
| Next Low | 163.15500 |
| 2nd Low | 161.48700 |
| 3rd Low | 161.00600 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing