EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline down.
A bearish descent downwards to the next support level at 180.6 will persist.
Caution: A possible change in the direction of resistance at 181.726 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Matching Low’ chart pattern is existing. The chart forms ‘Matching Low’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 181.726 |
| Current Price | 181.36800 |
| Next Low | 180.6 |
| 2nd Low | 179.773 |
| 3rd Low | 179.598 |
181.726 – 180.996 – 180.288 – 180.6 – 179.773 – 179.78 —
181.71600 – 181.45400 —
64.742123186775 – 57.407761154856 —
– —
181.72600 – 1763627400
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Matching Low – Double bottom chart pattern – – – –