EUR/JPY – 30M – SELLThe pair jumps from the ascending trendline downwards
A bearish trend down to the next support line at 164.91500 will continue.
Caution: A possible change in the direction of the resistance line at 165.89600 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 165.167734 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of support at 165.89600 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.11100 |
| 2nd High | 166.09600 |
| Next High | 165.89600 |
| Current Price | 165.36400 |
| Next Low | 164.91500 |
| 2nd Low | 164.88700 |
| 3rd Low | 164.26300 |