EUR/JPY – 30M – SELL

The currency pair Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline down.

A continuation of the downward movement down to the next support level at 169.86900 is expected.

Caution: A possible trend reversal in the direction of the resistance zone at 170.32900 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘StochRSI cross above 20’ indicator signal is found. The indicator is ‘StochRSI cross above 20’. which could be a positive signal. The pair is likely to go up.

And also a ‘Tweezers Top’ chart pattern is discovered. The candles show ‘Tweezers Top’. which is a negative signal. The pair is likely to go down. 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 — 67.46 – 2.27

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