EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline down.
A bearish trend down to the next support at 164.17500 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 164.76700 could be enabled.
Consider stop-loss settings accordingly.
And also a ‘Two Crows’ chart pattern is found. The candles form ‘Two Crows’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.82700 |
| Next High | 164.76700 |
| Current Price | 164.56600 |
| Next Low | 164.17500 |
| 2nd Low | 164.02100 |
| 3rd Low | 163.47900 |