EUR/JPY – 1H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.
A bearish movement down to the next support at 158.36500 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 160.33800 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Line Strike – Bearish’ candle pattern is existing. The chart shows ‘Three Line Strike – Bearish’. 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 likelyhood of ‘Three Line Strike – Bearish’ going down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.11200 |
| 2nd High | 162.00700 |
| Next High | 160.33800 |
| Current Price | 158.50300 |
| Next Low | 158.36500 |
| 2nd Low | 158.09900 |
| 3rd Low | 157.11600 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Line Strike – Bearish