EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline down.
A descent down to the next support line at 163.47900 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 164.75600 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Evening Star’ candle chart pattern is found. The chart shows ‘Evening Star’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.41800 |
| 2nd High | 165.02900 |
| Next High | 164.75600 |
| Current Price | 164.07300 |
| Next Low | 163.47900 |
| 2nd Low | 163.17200 |
| 3rd Low | 163.01700 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Evening Star