EUR/JPY – 1H – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline down.
A descent down to the next support level at 159.80200 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 163.31300 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Harami’ chart pattern is detected. The candles show ‘Bearish Harami’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.89900 |
| Next High | 163.31300 |
| Current Price | 161.73700 |
| Next Low | 159.80200 |
| 2nd Low | 159.10300 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Harami