EUR/JPY – 1H – SELLThe combination Euro/Japanese Yen (EUR/JPY) jumps from the descending trendline downwards
A continuation of the bearish trend downwards to the next support at 182.372 will persist.
Caution: A possible counter-trend in the direction of resistance at 183.223 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Belt Hold’ candlestick pattern is existing. The candles show ‘Bearish Belt Hold’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 184.768 |
| 2nd High | 184.689 |
| Next High | 183.223 |
| Current Price | 182.63100 |
| Next Low | 182.372 |
| 2nd Low | 182.024 |
| 3rd Low | 181.988 |
183.223 – 184.689 – 184.548 – 182.372 – 182.024 – 183.63 —
182.97900 – 183.06800 —
46.832359192393 – 46.636697916569 —
– —
183.223 – 1772589600
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Belt Hold – – – – – – – – –