Sell EUR/JPY – 1H – SELL

The combination Euro/Japanese Yen (EUR/JPY) goes from the bearish trendline downwards

A continuation of the downward movement downwards to the next support level at 161.48700 is likely expected.

Caution: A possible trend reversal in the direction of the resistance line at 164.75300 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 likely expected. Current target is 162.322912 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of support at 164.75300 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Support & Resistance Price Range*
3rd High 166.09600
2nd High 165.02900
Next High 164.75300
Current Price 162.37400
Next Low 161.48700
2nd Low 161.00600
3rd Low 158.69600

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