EUR/JPY – 30M – BUYThe pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline downwards
A descending movement downwards to the next support level at 164.02100 will persist.
Caution: A possible change in the direction of the resistance level at 164.75600 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Below The Stomach’ chart pattern is detected. The chart shows ‘Below The Stomach’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Below The Stomach’ going down is 60% (Bull Market) & 65% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.41800 |
| 2nd High | 165.02900 |
| Next High | 164.75600 |
| Current Price | 164.31200 |
| Next Low | 164.02100 |
| 2nd Low | 163.47900 |
| 3rd Low | 163.17200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Below The Stomach