EUR/JPY – 1H – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline downwards
A bearish descent downwards to the next support line at 163.01700 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 164.89900 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Engulfing’ candle pattern is discovered. The candles show ‘Bearish Engulfing’. 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 success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 165.02900 |
| Next High | 164.89900 |
| Current Price | 163.12200 |
| Next Low | 163.01700 |
| 2nd Low | 162.84100 |
| 3rd Low | 162.33800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing