EUR/JPY – 4H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline downwards
A descending movement down to the next support line at will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 163.75200 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is existing. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish chart signal. The currency pair could go down.
There is also a ‘Shooting Star’ chart pattern is discovered. The candles show ‘Shooting Star’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.18100 |
| 2nd High | 164.17500 |
| Next High | 163.75200 |
| Current Price | 161.92200 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
163.75200 – 162.66700 – 162.63200 – 160.97900 – 161.23900 – 161.28900
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Shooting Star