EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at 157.86000 will persist.
Caution: A possible change in the direction of the resistance zone at 159.88100 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Engulfing’ candlestick chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.33800 |
| 2nd High | 159.99000 |
| Next High | 159.88100 |
| Current Price | 159.41700 |
| Next Low | 157.86000 |
| 2nd Low | 157.55500 |
| 3rd Low | 156.97900 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing