EUR/JPY – 30M – SELL

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

A descending movement down to the next support at 172.04900 is considered certain.

Caution: A possible trend reversal in the direction of the resistance zone at 172.64800 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which is often a bearish signal. The currency pair could go down.

Furthermore a ‘Last Engulfing Top’ candle chart pattern is existing. The chart forms ‘Last Engulfing Top’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).

172.64800 – 172.21600 – 172.19800 – 172.04900 – 171.50100 – 170.96400 — 66.965719701505 – 59.570511818619 — 100 – 92.056838213165 – 90.657617144126 – 95.559030459241

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Last Engulfing Top – – –