EUR/JPY – 4H – SELLThe pair Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline downwards
A bearish descent down to the next support line at 160.89500 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 164.89900 should always be considered.
Consider stop-loss settings accordingly.
Next a ‘Tweezers Top’ candle chart pattern is detected. The chart shows ‘Tweezers Top’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 165.02900 |
| Next High | 164.89900 |
| Current Price | 163.28200 |
| Next Low | 160.89500 |
| 2nd Low | 159.80200 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Tweezers Top