EUR/JPY – 1H – SELLThe combination Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline down.
A bearish trend down to the next support line at 161.38200 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 163.31300 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish Harami’ candlestick chart pattern is existing. The chart shows ‘Bearish Harami’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘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 | 163.19100 |
| Next Low | 161.38200 |
| 2nd Low | 160.89500 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Harami