EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support at 169.86900 will continue.
Caution: A possible change in the direction of resistance at 170.32900 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Tweezers Top’ chart pattern is detected. The chart forms ‘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 likelyhood of ‘Tweezers Top’ heading 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 — 60.904559882454 – 50.896714634381
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Tweezers Top – Triple top chart pattern –