EUR/JPY – 1H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the descending trendline downwards
A continuation of the bearish trend down to the next support level at 162.01900 will continue.
Caution: A possible change in the direction of the resistance line at 163.75200 could occur.
Consider stop-loss settings accordingly.
Next a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is discovered. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish chart scenario. The currency pair could go down.
Next a ‘Bearish Belt Hold’ candle chart pattern is discovered. The candles show ‘Bearish Belt Hold’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
Next a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.18100 |
| 2nd High | 164.17500 |
| Next High | 163.75200 |
| Current Price | 162.06900 |
| Next Low | 162.01900 |
| 2nd Low | 161.83600 |
| 3rd Low | 161.15300 |
163.75200 – 162.45900 – 162.46200 – 162.01900 – 161.83600 – 161.15300
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Belt Hold