EUR/JPY – 30M – SELLThe pair goes from the ascending trendline down.
The bearish trend downwards to the next support level at 162.17300 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 163.42700 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Current target is 162.477736 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support line at 163.42700 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.60300 |
| 2nd High | 163.59700 |
| Next High | 163.42700 |
| Current Price | 162.63400 |
| Next Low | 162.17300 |
| 2nd Low | 161.90100 |
| 3rd Low | 161.00600 |