EUR/JPY – 4H – SELLThe combination Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline downwards
A descending movement down to the next support line at 160.89500 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 164.54500 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 161.3795 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support zone at 164.54500 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.89900 |
| Next High | 164.54500 |
| Current Price | 162.81200 |
| Next Low | 160.89500 |
| 2nd Low | 159.80200 |
| 3rd Low | 158.64400 |