EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.
A bearish trend down to the next support at 172.504 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 173.447 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bearish chart signal. The currency pair could go down.
Furthermore a ‘Three Outside Down’ candlestick pattern is existing. The chart shows ‘Three Outside Down’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 173.906 |
| 2nd High | 173.653 |
| Next High | 173.447 |
| Current Price | 173.31800 |
| Next Low | 172.504 |
| 2nd Low | 172.307 |
| 3rd Low | 171.234 |
173.447 – 173.442 – 173.053 – 172.504 – 172.307 – 172.488 — 56.027464380183 – 48.019601470609 — 66.335604385893 – 41.673586890328 – 66.571605899068 – 61.191171668449
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Down – – –