EUR/JPY – 30M – SELLThe combination moves from the ascending trendline down.
The bearish trend down to the next support level at 165.15300 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 166.35300 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 164.71026 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of support at 166.35300 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 166.35300 |
| Current Price | 165.28700 |
| Next Low | 165.15300 |
| 2nd Low | 164.88700 |
| 3rd Low | 164.26300 |