EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline downwards
A descending movement down to the next support line at 158.36800 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 159.38600 could occur.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Engulfing’ candlestick chart pattern is existing. The candles show ‘Bearish Engulfing’. which is a bearish chart scenario. The currency 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 | 160.33800 |
| 2nd High | 159.97600 |
| Next High | 159.38600 |
| Current Price | 158.70400 |
| Next Low | 158.36800 |
| 2nd Low | 157.55500 |
| 3rd Low | 156.97900 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing