EUR/JPY – 1H – SELL

Next a ‘Rising Wedge Chart Pattern’ chart formation is discovered. The chart picture shows ‘Rising Wedge Chart Pattern’. which is a bearish signal. The currency pair is likely to fall.

The pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline down.

A bearish movement downwards to the next support at 166.69900 is expected.

Caution: A possible change in the direction of resistance at 167.61300 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Three Outside Down’ chart pattern is found. The chart forms ‘Three Outside Down’. this is a bearish signal. The currency pair is likely to go down. 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).

167.61300 – 167.21100 – 166.74600 – 166.69900 – 164.93400 – 165.49200

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