EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 158.69600 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 163.76900 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candlestick chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.75300 |
| 2nd High | 163.92700 |
| Next High | 163.76900 |
| Current Price | 160.72900 |
| Next Low | 158.69600 |
| 2nd Low | 158.36500 |
| 3rd Low | 158.09900 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing