EUR/JPY – 4H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline downwards
The bearish trend downwards to the next support level at 160.89500 is considered certain.
Caution: A possible change in the direction of the resistance line at 164.54500 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles show ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.89900 |
| Next High | 164.54500 |
| Current Price | 162.67800 |
| Next Low | 160.89500 |
| 2nd Low | 159.80200 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing