EUR/JPY – 30M – SELL

The pair Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline downwards

A continuation of the downtrend downwards to the next support at 168.45600 is certain.

Caution: A possible change in the direction of the resistance zone at 169.54200 is also possible.
Consider stop-loss settings accordingly.

Also there is a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The pair is likely to go down.

Also there is a ‘Matching Low’ candle pattern is detected. The candles form ‘Matching Low’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

169.54200 – 169.65700 – 169.85900 – 168.45600 – 168.70300 – 169.17800

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Matching Low – Head and Shoulder chart pattern