EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 157.55500 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 159.02900 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ candle chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. 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 | 159.97600 |
| 2nd High | 159.38600 |
| Next High | 159.02900 |
| Current Price | 158.30700 |
| Next Low | 157.55500 |
| 2nd Low | 156.97900 |
| 3rd Low | 156.17400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing