The EUR/JPY currency pair is currently showing signs of further downside. The ongoing bearish momentum is expected to continue, supported by multiple technical signals.
The continuation of this downward move is confirmed by the appearance of a bearish candlestick formation and a developing double top pattern, both of which are classic signs of a potential trend reversal to the downside. As long as price remains below key resistance levels, the bearish outlook remains valid.
Recommendation:
- Sell EUR/JPY
- Entry: 168.840
- Take Profit 1: 168.440
- Take Profit 2: 168.040
- Stop Loss: 169.240
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