EUR/JPY – 30M – SELL

The combination Euro/Japanese Yen (EUR/JPY) moves from the descending trendline down.

A continuation of the downward movement down to the next support line at 169.86900 will persist.

Caution: A possible counter-trend in the direction of resistance at 170.32900 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘StochRSI cross above 20’ indicator layout is detected. The indicator shows ‘StochRSI cross above 20’. which is often a bullish signal. The currency pair is likely to rise.

Furthermore a ‘Tweezers Top’ candle pattern is discovered. The chart shows ‘Tweezers Top’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).

170.32900 – 170.61000 – 169.78600 – 169.86900 – 169.84900 – 169.51700 — 60.904559882454 – 50.896714634381

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Tweezers Top – – –