EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the descending trendline downwards
A continuation of the bearish trend downwards to the next support level at 180.845 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 182.129 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Last Engulfing Top’ candlestick chart pattern is existing. The candles form ‘Last Engulfing Top’. 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 probability of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 185.324 |
| 2nd High | 183.004 |
| Next High | 182.129 |
| Current Price | 181.74200 |
| Next Low | 180.845 |
| 2nd Low | 180.49 |
| 3rd Low | 180.091 |
182.129 – 183.004 – 185.324 – 180.845 – 181.334 – 182.211 —
181.67800 – 181.80500 —
49.021620576502 – 51.622716920089 —
– —
182.129 – 1770863400
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Last Engulfing Top – – – – – – – – –