EUR/JPY – 30M – SELL

Besides a ‘Double top retreat up’ chart formation is discovered. The formation shows ‘Double top retreat up’. this is a bullish signal. The currency pair is likely to go up.

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

A continuation of the downward movement down to the next support at 166.69900 is expected.

Caution: A possible trend reversal in the direction of the resistance zone at 167.04700 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Three Outside Down’ candle chart pattern is detected. The chart forms ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

167.04700 – 167.58500 – 167.61300 – 166.69900 – 166.97100 – 165.92400

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