EUR/JPY – 30M – SELL

The combination Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline down.

A descent down to the next support level at 183.924 will continue.

Caution: A possible reversal of the trend in the direction of the resistance level at 185.035 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Outside Down’ candlestick pattern is found. The chart shows ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

184.234 – 184.163 – 183.882 – 183.924 – 183.787 – 183.91 —
184.18200 – 184.47200 —
60.609493802144 – 75.106126228741 —
– —
184.234 – 1778184000

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