EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline down.
A bearish trend down to the next support at 160.98500 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 162.48600 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candlestick chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.92700 |
| 2nd High | 163.76900 |
| Next High | 162.48600 |
| Current Price | 161.95400 |
| Next Low | 160.98500 |
| 2nd Low | 159.90400 |
| 3rd Low | 158.69600 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing