Bearish EURJPY - 05 September 2024

EURUSD Forex

EURJPY

Bearish Closed

Charts by TradingView

A Price Action Descending Triangle pattern formation on the 4 Hour time frame chart supports EURJPY Bearish bias. A break of 159.240 will support the fall towards the target of 158.595 the break of 158.595 would push the price to 158.165.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 163.07
Support S1: 163.02, S2: 162.92 , S3: 162.87
Resistance R1: 163.17 , R2: 163.22 , R3: 163.32

Brokers

Open account

Summary

Instrument :

EURJPY

Direction :

Bearish

Pattern Name :

Descending Triangle

Probability :

57%

Entry Level :

159.240

Activation Time :

2024-09-04 21:00

Age :

345 Bars

Progress :

100%

Close Time :

2024-09-05 05:00

Time Frame :

4 Hour

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

MEMBERS ONLY

Descending Triangle

A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. a descending triangle can be either bearish or bullish. Traditionally, a regular descending triangle pattern is considered to be a bearish chart pattern. However, a descending triangle pattern can also be bullish.