EUR/JPY – 1H – BUYThe pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline down.
A bearish trend downwards to the next support at 161.38200 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 164.01700 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Below The Stomach’ candle pattern is detected. The candles form ‘Below The Stomach’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Below The Stomach’ heading down is 60% (Bull Market) & 65% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.89900 |
| Next High | 164.01700 |
| Current Price | 163.91400 |
| Next Low | 161.38200 |
| 2nd Low | 160.89500 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Below The Stomach