EUR/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 157.532 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 158.65400 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Falling Window’ candlestick chart pattern is existing. The candles form ‘Falling Window’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Falling Window’ going down is 67% (Bull Market) and 73% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 159.97600 |
| 2nd High | 158.89000 |
| Next High | 158.65400 |
| Current Price | 158.14800 |
| Next Low | 156.97900 |
| 2nd Low | 156.17400 |
| 3rd Low | 156.04200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Falling Window