EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the descending trendline downwards
A continuation of the downtrend down to the next support line at 169.86900 is certain.
Caution: A possible trend reversal in the direction of resistance at 170.32900 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Tweezers Top’ candlestick pattern is existing. The candles show ‘Tweezers Top’. this is a bearish chart scenario. 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 – –