EUR/JPY – 1H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at 181.783 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 183.685 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Tweezers Top’ candlestick chart pattern is detected. The candles form ‘Tweezers Top’. which is a negative signal. The pair is likely to go down. 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 | 186.869 |
| Next High | 183.685 |
| Current Price | 183.01100 |
| Next Low | 181.783 |
| 2nd Low | 181.565 |
| 3rd Low | 180.49 |
183.685 – 186.869 – 185.536 – 181.783 – 184.802 – 184.818 —
183.59100 – 183.28600 —
53.850828919518 – 48.947368921265 —
– —
183.68500 – 1769504400
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Tweezers Top – – – – – – – – –