EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support at 169.86900 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 170.32900 should be noted.
Consider stop-loss settings accordingly.
Additionally a ‘%K crosses below %D’ indicator signal is detected. The indicator shows ‘%K crosses below %D’. this is usually a bearish signal. The currency pair could go down.
Additionally a ‘Tweezers Top’ chart pattern is discovered. The chart shows ‘Tweezers Top’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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 — 60.904559882454 – 50.896714634381 — 57.533345218541 – 38.668415874057 – 56.571534833357 – 50.582779320388
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Tweezers Top – – –