EUR/JPY – 1H – SELLThe currency pair goes from the ascending trendline downwards
A bearish descent downwards to the next support line at 158.09900 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 163.49200 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 159.371748 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support zone at 163.49200 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.54000 |
| 2nd High | 163.86900 |
| Next High | 163.49200 |
| Current Price | 160.24000 |
| Next Low | 158.09900 |
| 2nd Low | 157.11600 |
| 3rd Low | 157.03700 |