EUR/JPY – 4H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline downwards
A bearish movement down to the next support at 159.80200 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 164.89900 is also possible.
Consider stop-loss settings accordingly.
Moreover a ‘Two Crows’ candle pattern is discovered. The candles show ‘Two Crows’. 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 chance of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 165.02900 |
| Next High | 164.89900 |
| Current Price | 162.46500 |
| Next Low | 159.80200 |
| 2nd Low | 158.64400 |
| 3rd Low | 157.86000 |