EUR/JPY – 1H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline downwards
A descent downwards to the next support at 164.02100 is likely expected.
Caution: A possible change in the direction of resistance at 164.82700 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Harami’ candlestick chart pattern is detected. The candles form ‘Bearish Harami’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 165.02900 |
| Next High | 164.82700 |
| Current Price | 164.72400 |
| Next Low | 164.02100 |
| 2nd Low | 163.01700 |
| 3rd Low | 162.84100 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Harami