EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline downwards
A bearish trend downwards to the next support level at 165.92400 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 167.59000 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Last Engulfing Top’ candlestick pattern is found. The candles show ‘Last Engulfing Top’. 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 ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 167.59000 |
| Current Price | 167.25000 |
| Next Low | 165.92400 |
| 2nd Low | 164.93400 |
| 3rd Low | 164.62100 |
167.59000 – 167.45600 – 167.21100 – 165.92400 – 164.93400 – 165.49200
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Last Engulfing Top