EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 159.56200 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 160.33800 could occur.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bearish Engulfing’ candlestick pattern is detected. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.00700 |
| 2nd High | 160.70500 |
| Next High | 160.33800 |
| Current Price | 159.90100 |
| Next Low | 159.56200 |
| 2nd Low | 159.24900 |
| 3rd Low | 159.09000 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing