EUR/JPY – 4H – SELL

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

A bearish descent down to the next support at 160.97900 is likely expected.

Caution: A possible trend reversal in the direction of resistance at 162.66700 could be enabled.
Consider stop-loss settings accordingly.

Then a ‘On Neck’ chart pattern is discovered. The chart shows ‘On Neck’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘On Neck’ heading down is 56% (Bull Market) & 58% (Bear Market).

Then a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. which is often a bearish chart signal. The currency pair could go down.

162.66700 – 162.63200 – 163.27800 – 160.97900 – 161.23900 – 161.28900

Download EUR/JPY Signal Image

Trading Signals: FOREX – EUR – EUR/JPY – JPY – On Neck