EUR/JPY – 1H – SELLThe combination Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline down.
A descending movement down to the next support line at 159.36800 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 159.99000 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish SBS White Lines’ candle pattern is discovered. The chart forms ‘Bearish SBS White Lines’. 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 likelyhood of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.00700 |
| 2nd High | 160.33800 |
| Next High | 159.99000 |
| Current Price | 159.78600 |
| Next Low | 159.36800 |
| 2nd Low | 157.86000 |
| 3rd Low | 157.55500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish SBS White Lines