EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline down.
A bearish trend down to the next support line at 156.17400 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 157.98100 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish Engulfing’ chart pattern is discovered. The candles form ‘Bearish Engulfing’. this 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’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.89000 |
| 2nd High | 158.63300 |
| Next High | 157.98100 |
| Current Price | 157.64500 |
| Next Low | 156.17400 |
| 2nd Low | 156.04200 |
| 3rd Low | 155.14800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing