EUR/JPY – 30M – BUYThe pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline down.
A bearish trend down to the next support at 161.16000 will continue.
Caution: A possible change in the direction of the resistance zone at 162.20300 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Outside Down’ candle chart pattern is found. The candles show ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.76900 |
| 2nd High | 162.48600 |
| Next High | 162.20300 |
| Current Price | 161.97000 |
| Next Low | 161.16000 |
| 2nd Low | 160.65800 |
| 3rd Low | 159.63400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Down