EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 161.02900 is certain.
Caution: A possible change in the direction of the resistance level at 161.55600 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candle pattern is existing. The candles show ‘Bearish Engulfing’. this 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 ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.48600 |
| 2nd High | 162.46900 |
| Next High | 161.55600 |
| Current Price | 160.75800 |
| Next Low | 161.02900 |
| 2nd Low | 160.76900 |
| 3rd Low | 160.65800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing