EUR/JPY – 1H – SELLFurthermore a ‘Double top chart pattern’ chart formation is detected. The chart forms ‘Double top chart pattern’. this is a bearish signal. The currency pair is likely to go down.
The pair Euro/Japanese Yen (EUR/JPY) moves from the descending trendline down.
A continuation of the downtrend down to the next support line at will persist.
Caution: A possible trend reversal in the direction of resistance at 169.85900 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart signal. The currency pair could go down.
Furthermore a ‘Bearish Belt Hold’ candlestick chart pattern is discovered. The candles show ‘Bearish Belt Hold’. which 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 likelyhood of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 169.85900 |
| Current Price | 168.60000 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
169.85900 – 169.80500 – 169.39500 – 168.70300 – 168.62400 – 168.55300
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Belt Hold – Double top chart pattern