EUR/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 161.475164 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of support at 163.65400 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Two Crows’ candlestick pattern is detected. The chart shows ‘Two Crows’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.18100 |
| 2nd High | 163.88100 |
| Next High | 163.65400 |
| Current Price | 162.18500 |
| Next Low | 160.73500 |
| 2nd Low | 160.73200 |
| 3rd Low | 160.05100 |
162.12800 – 161.58800 – 163.65400 – 160.73500 – 160.73200 – 162.18900