EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline down.
A bearish movement down to the next support level at 162.60100 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 163.50600 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Concealing Baby Swallow’ candle chart pattern is existing. The candles form ‘Concealing Baby Swallow’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Concealing Baby Swallow’ going down is 75% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.54500 |
| 2nd High | 163.80500 |
| Next High | 163.50600 |
| Current Price | 162.81200 |
| Next Low | 162.60100 |
| 2nd Low | 162.48800 |
| 3rd Low | 161.62200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Concealing Baby Swallow