EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline down.
A continuation of the downward movement downwards to the next support line at 157.95800 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 158.89000 could be enabled.
Consider stop-loss settings accordingly.
Next a ‘Three Line Strike – Bearish’ candle chart pattern is found. The candles show ‘Three Line Strike – Bearish’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Line Strike – Bearish’ going down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.33800 |
| 2nd High | 159.97600 |
| Next High | 158.89000 |
| Current Price | 158.40600 |
| Next Low | 157.95800 |
| 2nd Low | 157.11600 |
| 3rd Low | 157.03700 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Line Strike – Bearish