EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the descending trendline down.
A continuation of the downtrend down to the next support line at 169.86900 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 170.32900 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Tweezers Top’ candle pattern is detected. The chart shows ‘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 – – –