EUR/JPY – 1H – SELLThe pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.
A descent downwards to the next support at 160.65800 is certain.
Caution: A possible change in the direction of the resistance line at 162.46900 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Engulfing’ candle chart pattern is detected. The chart shows ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.75300 |
| 2nd High | 162.48600 |
| Next High | 162.46900 |
| Current Price | 160.92600 |
| Next Low | 160.65800 |
| 2nd Low | 159.10300 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing