EUR/JPY – 30M – BUY

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

A continuation of the downward movement down to the next support level at 159.80200 is likely expected.

Caution: A possible reversal of the trend in the direction of resistance at 163.31300 could happen.
Consider stop-loss settings accordingly.

And also a ‘Three Outside Down’ candlestick pattern is detected. The chart forms ‘Three Outside Down’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘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