EUR/JPY – 1H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the descending trendline downwards
A continuation of the bearish trend downwards to the next support line at 182.637 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 184.402 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Tweezers Top’ candlestick pattern is found. The candles show ‘Tweezers Top’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 187.554 |
| 2nd High | 184.583 |
| Next High | 184.402 |
| Current Price | 183.73000 |
| Next Low | 182.637 |
| 2nd Low | 182.282 |
| 3rd Low | 182.045 |
184.402 – 184.583 – 187.554 – 182.637 – 182.282 – 186.675 —
183.99700 – 183.85000 —
46.800631823355 – 48.094969777116 —
– —
184.402 – 1777874400
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Tweezers Top – Symmetrical Triangle Chart Pattern – – – – – – – –