EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline down.
A continuation of the downtrend downwards to the next support line at 169.86900 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 170.32900 could be enabled.
Consider stop-loss settings accordingly.
Then a ‘Tweezers Top’ chart pattern is found. The chart forms ‘Tweezers Top’. this 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 likelyhood 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 –