EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support at 169.86900 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 170.32900 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Tweezers Top’ candlestick pattern is detected. 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 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 — 57.533345218541 – 38.668415874057 – 56.571534833357 – 50.582779320388
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Tweezers Top – – –