EUR/JPY – 4H – SELLThe combination Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline downwards
A bearish trend down to the next support line at 159.80200 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 163.79700 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Evening Star’ candle chart pattern is discovered. The candles show ‘Evening Star’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.75300 |
| Next High | 163.79700 |
| Current Price | 163.54300 |
| Next Low | 159.80200 |
| 2nd Low | 158.64400 |
| 3rd Low | 157.86000 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Evening Star