EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline downwards
A descent downwards to the next support line at 165.92400 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 167.21100 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Two Crows’ candle chart pattern is detected. The chart shows ‘Two Crows’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 167.21100 |
| Current Price | 167.35400 |
| Next Low | 165.92400 |
| 2nd Low | 164.93400 |
| 3rd Low | 164.62100 |
167.21100 – 166.87100 – 166.58700 – 165.92400 – 164.93400 – 165.49200