EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 162.33800 will continue.
Caution: A possible change in the direction of the resistance level at 163.18100 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ chart pattern is detected. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.79700 |
| 2nd High | 163.65900 |
| Next High | 163.18100 |
| Current Price | 162.71300 |
| Next Low | 162.33800 |
| 2nd Low | 159.80200 |
| 3rd Low | 159.63400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing