EUR/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Current target is 161.475164 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 162.12800 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three Inside Down’ candle chart pattern is detected. The chart forms ‘Three Inside Down’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Inside Down’ going down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.88100 |
| 2nd High | 163.65400 |
| Next High | 162.12800 |
| Current Price | 162.08800 |
| Next Low | 160.73500 |
| 2nd Low | 160.73200 |
| 3rd Low | 160.05100 |
162.12800 – 161.58800 – 163.65400 – 160.73500 – 160.73200 – 162.18900
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Inside Down