EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline down.
A descent downwards to the next support at 161.16000 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 162.11200 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish Engulfing’ candlestick pattern is discovered. 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 | 163.76900 |
| 2nd High | 162.48600 |
| Next High | 162.11200 |
| Current Price | 162.03000 |
| Next Low | 161.16000 |
| 2nd Low | 160.65800 |
| 3rd Low | 159.63400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing