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FX.co ★ EURJPY M5: Bearish Rectangle

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Technical Analysis Patterns

2024-11-21T03:00:38
Signal strength 1 of 5

EURJPY M5: Bearish Rectangle

Bearish RectangleAccording to the chart of M5, EURJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 163.56 - 0.00 and support 163.32 – 163.32. In case the resistance level 163.32 - 163.32 is broken, the instrument is likely to follow the bearish trend.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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