EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) jumps from the descending trendline downwards
A continuation of the downtrend down to the next support level at 172.488 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 173.653 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Last Engulfing Top’ candlestick pattern is found. The candles show ‘Last Engulfing Top’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 173.906 |
| Next High | 173.653 |
| Current Price | 172.43300 |
| Next Low | 172.488 |
| 2nd Low | 171.234 |
| 3rd Low | 171.113 |
172.741 – 172.674 – 173.653 – 172.488 – 172.714 – 172.751 — 44.534058894002 – 42.85878720992 — 7.9905288555201 – 9.7049258942889 – 4.0613451774099 – 7.2343071903524
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Last Engulfing Top – – –