EUR/JPY – 30M – SELL

Additionally a ‘Double bottom retreat down’ chart formation is found. The formation shows ‘Double bottom retreat down’. which is a bearish pattern signal. The currency pair is likely to go down.

The currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline downwards

A bearish movement down to the next support line at 172.307 is likely expected.

Caution: A possible reversal of the trend in the direction of resistance at 172.906 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Tweezers Top’ candlestick pattern is discovered. The candles form ‘Tweezers Top’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).

172.906 – 172.741 – 172.674 – 172.307 – 172.488 – 172.714 — 66.581352913942 – 45.471820985659 — 53.366960907944 – 43.24842370744 – 39.562323695241 – 42.25641025641

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Tweezers Top – Double bottom retreat down – –