EUR/JPY – 4H – SELLAdditionally a ‘Rising Wedge Chart Pattern’ chart formation is detected. The chart picture shows ‘Rising Wedge Chart Pattern’. this is a bearish chart scenario. The currency pair is likely to go down.
The currency pair Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline downwards
A bearish descent downwards to the next support line at 168.45600 is expected.
Caution: A possible counter-trend in the direction of resistance at 172.59800 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. which is often a bearish signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 172.59800 |
| Current Price | 172.23800 |
| Next Low | 168.45600 |
| 2nd Low | 167.90700 |
| 3rd Low | 166.02800 |
172.59800 – 169.85900 – 169.71100 – 168.45600 – 167.90700 – 166.02800 — 59.777185808614 – 59.085635545211 — 19.323259403688 – 13.412949874076 – 30.407194680322 – 23.639612296343
Trading Signals: FOREX – EUR – EUR/JPY – JPY – – Rising Wedge Chart Pattern – –