EUR/JPY – 4H – SELLThe combination Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline downwards
A descent downwards to the next support level at 171.112 will persist.
Caution: A possible change in the direction of the resistance line at should be noted.
Consider stop-loss settings accordingly.
And also a ‘Tweezers Top’ chart pattern is found. The candles form ‘Tweezers Top’. this 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’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 172.81900 |
| Next Low | 171.112 |
| 2nd Low | 168.456 |
| 3rd Low | 167.907 |
172.67 – 172.698 – 172.598 – 171.112 – 168.456 – 167.907 — 68.684066778702 – 57.619665743615 — 71.183882818147 – 59.537104775188 – 69.633539355792 – 67.888027041015
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Tweezers Top – Triple bottom chart pattern – –