EUR/JPY – 1H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline down.
A bearish descent down to the next support level at 159.80200 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 163.31300 could happen.
Consider stop-loss settings accordingly.
Next a ‘Bearish Belt Hold’ candle pattern is detected. The candles show ‘Bearish Belt Hold’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.89900 |
| Next High | 163.31300 |
| Current Price | 162.07800 |
| Next Low | 159.80200 |
| 2nd Low | 159.10300 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Belt Hold