EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline down.
A bearish trend down to the next support line at 161.16000 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 162.48600 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Evening Star’ candle chart pattern is detected. The candles form ‘Evening Star’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.92700 |
| 2nd High | 163.76900 |
| Next High | 162.48600 |
| Current Price | 162.07700 |
| Next Low | 161.16000 |
| 2nd Low | 160.65800 |
| 3rd Low | 159.63400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Evening Star