EUR/JPY – 1H – SELLThe combination Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline downwards
A bearish movement down to the next support line at 182.218 is expected.
Caution: A possible change in the direction of the resistance level at 183.153 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Belt Hold’ candle chart pattern is detected. The chart forms ‘Bearish Belt Hold’. which 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 ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 186.232 |
| 2nd High | 185.995 |
| Next High | 183.153 |
| Current Price | 182.70400 |
| Next Low | 182.218 |
| 2nd Low | 182.008 |
| 3rd Low | 180.816 |
183.153 – 182.539 – 181.787 – 182.218 – 182.008 – 180.816 —
182.74500 – 182.81200 —
53.860528746725 – 54.824604731088 —
– —
183.153 – 1771488000
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Belt Hold – – – – – – – – –