EUR/JPY – 4H – SELL

The pair Euro/Japanese Yen (EUR/JPY) jumps from the descending trendline down.

A continuation of the downward movement downwards to the next support at 158.64400 is considered certain.

Caution: A possible trend reversal in the direction of resistance at 160.68900 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Three Outside Down’ chart pattern is discovered. The chart forms ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/JPY Signal Image

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Down