EUR/JPY – 30M – BUYThe pair Euro/Japanese Yen (EUR/JPY) goes from the bearish trendline downwards
A continuation of the bearish trend down to the next support at 160.76900 is certain.
Caution: A possible change in the direction of the resistance zone at 161.48000 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Outside Down’ candlestick pattern is detected. The candles form ‘Three Outside Down’. this is a bearish pattern signal. The pair is likely to go down. 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 | 162.48600 |
| 2nd High | 162.46900 |
| Next High | 161.48000 |
| Current Price | 161.11500 |
| Next Low | 160.76900 |
| 2nd Low | 160.65800 |
| 3rd Low | 159.63400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Down