EUR/JPY – 1H – SELLThe pair Euro/Japanese Yen (EUR/JPY) goes from the bearish trendline down.
A continuation of the downtrend downwards to the next support at 156.17400 will continue.
Caution: A possible change in the direction of the resistance level at 157.98100 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Engulfing’ chart pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.89000 |
| 2nd High | 158.63300 |
| Next High | 157.98100 |
| Current Price | 157.26400 |
| Next Low | 156.17400 |
| 2nd Low | 156.04200 |
| 3rd Low | 155.14800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing