EUR/JPY – 1H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline downwards
The bearish trend down to the next support line at 162.36700 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 163.50600 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bearish Harami’ chart pattern is discovered. The candles show ‘Bearish Harami’. which is a negative pattern 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 ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.54500 |
| 2nd High | 163.80500 |
| Next High | 163.50600 |
| Current Price | 162.95900 |
| Next Low | 162.36700 |
| 2nd Low | 161.38200 |
| 3rd Low | 160.89500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Harami