EUR/JPY – 1H – SELL

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

A bearish movement down to the next support at 164.93400 is expected.

Caution: A possible reversal of the trend in the direction of resistance at 167.21100 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ candlestick pattern is discovered. The chart forms ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

167.21100 – 166.74600 – 166.42200 – 164.93400 – 165.49200 – 165.37800

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