EUR/JPY – 30M – SELL

The currency pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline downwards

A descent down to the next support level at 161.54600 is expected.

Caution: A possible trend reversal in the direction of the resistance zone at 162.63200 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ candlestick pattern is existing. The candles form ‘Three Outside Down’. this is a bearish signal. The currency pair is likely to fall. 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).

162.15700 – 162.09700 – 162.01500 – 161.54600 – 161.68600 – 161.69400

Download EUR/JPY Signal Image

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