EUR/JPY – 30M – SELL

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

A descent down to the next support line at 166.02800 is considered certain.

Caution: A possible trend reversal in the direction of the resistance zone at 167.31300 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Three Outside Down’ candle chart pattern is discovered. 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 probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

167.31300 – 167.05300 – 167.04700 – 166.02800 – 166.32000 – 166.69900

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