EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline down.
A descent downwards to the next support at 159.44600 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 159.88100 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Evening Star’ candle chart pattern is detected. The candles show ‘Evening Star’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.33800 |
| 2nd High | 159.99000 |
| Next High | 159.88100 |
| Current Price | 159.79000 |
| Next Low | 159.44600 |
| 2nd Low | 157.86000 |
| 3rd Low | 157.55500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Evening Star