EUR/JPY – 1H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.
A bearish trend down to the next support line at 161.38200 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 164.54500 is also possible.
Consider stop-loss settings accordingly.
Furthermore a ‘Tweezers Top’ chart pattern is found. The chart shows ‘Tweezers Top’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.89900 |
| Next High | 164.54500 |
| Current Price | 163.54200 |
| Next Low | 161.38200 |
| 2nd Low | 160.89500 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Tweezers Top