EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline downwards
A bearish movement down to the next support level at 161.16000 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 162.46900 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candle pattern is found. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.76900 |
| 2nd High | 162.48600 |
| Next High | 162.46900 |
| Current Price | 161.22500 |
| Next Low | 161.16000 |
| 2nd Low | 160.65800 |
| 3rd Low | 159.63400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing