EUR/JPY – 4H – SELL

The pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.

A descending movement down to the next support level at 160.89500 is likely expected.

Caution: A possible trend reversal in the direction of the resistance line at 164.89900 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

And also a ‘Three Outside Down’ candlestick pattern is detected. The chart forms ‘Three Outside Down’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/JPY Signal Image

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