EUR/JPY – 4H – SELLThe pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline downwards
A bearish movement downwards to the next support line at 157.86000 is considered certain.
Caution: A possible change in the direction of resistance at 164.75300 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish Engulfing’ candle pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 165.02900 |
| Next High | 164.75300 |
| Current Price | 159.75100 |
| Next Low | 157.86000 |
| 2nd Low | 156.17400 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing