EUR/JPY – 1H – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline downwards
The bearish trend downwards to the next support line at 164.02100 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 164.82700 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Belt Hold’ candle pattern is discovered. The chart shows ‘Bearish Belt Hold’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 165.02900 |
| Next High | 164.82700 |
| Current Price | 164.53700 |
| Next Low | 164.02100 |
| 2nd Low | 163.01700 |
| 3rd Low | 162.84100 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Belt Hold