EUR/JPY – 30M – SELLAdditionally a ‘Double bottom retreat down’ chart layout is existing. The chart picture shows ‘Double bottom retreat down’. which is a negative signal. The currency pair is likely to go down.
The combination Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline down.
A descending movement down to the next support at 168.62400 will persist.
Caution: A possible change in the direction of resistance at 169.28400 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which could be a negative signal. The currency pair could go down.
Additionally a ‘Last Engulfing Top’ candlestick chart pattern is found. The candles form ‘Last Engulfing Top’. this is a bearish 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’ going down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 169.71100 |
| 2nd High | 169.39500 |
| Next High | 169.28400 |
| Current Price | 169.25300 |
| Next Low | 168.62400 |
| 2nd Low | 168.55300 |
| 3rd Low | 168.08100 |
169.28400 – 169.20700 – 169.39500 – 168.62400 – 168.74900 – 168.55300
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Last Engulfing Top – Double bottom retreat down