EUR/JPY – 4H – BUYThe pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline downwards
A descending movement down to the next support level at 159.80200 is considered certain.
Caution: A possible change in the direction of the resistance line at 164.89900 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Concealing Baby Swallow’ candlestick chart pattern is found. The candles form ‘Concealing Baby Swallow’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Concealing Baby Swallow’ going down is 75% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 165.02900 |
| Next High | 164.89900 |
| Current Price | 161.78400 |
| Next Low | 159.80200 |
| 2nd Low | 158.64400 |
| 3rd Low | 157.86000 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Concealing Baby Swallow