EUR/JPY – 30M – SELLThe combination goes from the bullish trendline down.
The bearish trend down to the next support level at 165.20800 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 165.85600 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 165.331532 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support line at 165.85600 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.35300 |
| 2nd High | 166.11100 |
| Next High | 165.85600 |
| Current Price | 165.53700 |
| Next Low | 165.20800 |
| 2nd Low | 165.01600 |
| 3rd Low | 164.88700 |