EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) goes from the bearish trendline down.
A continuation of the downtrend down to the next support line at 169.86900 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 170.32900 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Tweezers Top’ candlestick pattern is detected. The candles show ‘Tweezers Top’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 170.61000 |
| Next High | 170.32900 |
| Current Price | 170.15100 |
| Next Low | 169.86900 |
| 2nd Low | 169.84900 |
| 3rd Low | 169.51700 |
170.32900 – 170.61000 – 169.78600 – 169.86900 – 169.84900 – 169.51700
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Tweezers Top – Triple top chart pattern