EUR/JPY – 4H – SELLThe combination Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline downwards
A bearish trend down to the next support line at 159.80200 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 164.89900 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Bearish Engulfing’ candlestick pattern is detected. The chart forms ‘Bearish Engulfing’. 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 ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 165.02900 |
| Next High | 164.89900 |
| Current Price | 161.49900 |
| Next Low | 159.80200 |
| 2nd Low | 158.64400 |
| 3rd Low | 157.86000 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing