EUR/JPY – 30M – BUYThe combination jumps from the bullish trendline down.
The bearish trend downwards to the next support level at 165.33100 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 166.03200 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Target of the current trend is 165.85258 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of resistance at 166.03200 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.35300 |
| 2nd High | 166.11100 |
| Next High | 166.03200 |
| Current Price | 165.74400 |
| Next Low | 165.33100 |
| 2nd Low | 165.20800 |
| 3rd Low | 165.01600 |