EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline down.
A bearish trend down to the next support line at 157.55500 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 158.47800 could happen.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Down’ candle chart pattern is existing. The chart forms ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.89000 |
| 2nd High | 158.65400 |
| Next High | 158.47800 |
| Current Price | 158.67900 |
| Next Low | 157.55500 |
| 2nd Low | 156.97900 |
| 3rd Low | 156.17400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Down