EUR/JPY – 1H – SELLThe combination Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.
A descent downwards to the next support level at 162.84100 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 163.59300 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bearish SBS White Lines’ candlestick pattern is discovered. The candles form ‘Bearish SBS White Lines’. 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 ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.75300 |
| 2nd High | 163.79700 |
| Next High | 163.59300 |
| Current Price | 163.42700 |
| Next Low | 162.84100 |
| 2nd Low | 162.33800 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish SBS White Lines