EUR/JPY – 1H – SELLThe pair moves from the descending trendline down.
A continuation of the downward movement down to the next support line at 162.17300 is expected.
Caution: A possible change in the direction of the resistance zone at 163.59700 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 162.265228 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support level at 163.59700 could happen.
In the case of a trade, always set appropriate stop-loss settings.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.86900 |
| 2nd High | 163.60300 |
| Next High | 163.59700 |
| Current Price | 162.63000 |
| Next Low | 162.17300 |
| 2nd Low | 161.90100 |
| 3rd Low | 161.00600 |