EUR/JPY – 4H – SELL

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

The bearish trend downwards to the next support line at 159.80200 is expected.

Caution: A possible trend reversal in the direction of resistance at 163.79700 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Three Outside Down’ candlestick chart pattern is existing. The candles form ‘Three Outside Down’. which is a bearish 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’ heading down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/JPY Signal Image

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