EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.
A descending movement down to the next support at 162.84100 will persist.
Caution: A possible counter-trend in the direction of resistance at 163.59300 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Engulfing’ candlestick chart pattern is existing. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.79700 |
| 2nd High | 163.65900 |
| Next High | 163.59300 |
| Current Price | 163.25100 |
| Next Low | 162.84100 |
| 2nd Low | 162.50700 |
| 3rd Low | 162.33800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing