EUR/JPY – 30M – SELLBesides a ‘Double bottom retreat down’ chart pattern is found. The chart picture shows ‘Double bottom retreat down’. this is a bearish chart scenario. The currency pair is likely to fall.
The combination Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline downwards
A descent down to the next support line at 168.62400 is expected.
Caution: A possible trend reversal in the direction of resistance at 169.28400 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which could be a negative chart scenario. The pair is likely to go down.
Besides a ‘Last Engulfing Top’ candlestick chart pattern is found. The candles show ‘Last Engulfing Top’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 169.71100 |
| 2nd High | 169.39500 |
| Next High | 169.28400 |
| Current Price | 169.25300 |
| Next Low | 168.62400 |
| 2nd Low | 168.55300 |
| 3rd Low | 168.08100 |
169.28400 – 169.20700 – 169.39500 – 168.62400 – 168.74900 – 168.55300
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Last Engulfing Top – Double bottom retreat down