EUR/JPY – 1H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support level at 158.09900 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 160.33800 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Falling Window’ candle chart pattern is found. The candles show ‘Falling Window’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Falling Window’ heading down is 67% (Bull Market) and 73% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.11200 |
| 2nd High | 162.00700 |
| Next High | 160.33800 |
| Current Price | 158.06800 |
| Next Low | 158.09900 |
| 2nd Low | 157.11600 |
| 3rd Low | 157.03700 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Falling Window