Bearish Sequence (Descending Triangle) - EJ

Here I have EUR/JPY on the 4Hr Chart! I believe we are seeing a Correction in the Bearish direction since EUR/JPY has been traveling in a UPTREND for quite some time!

Our current Highest High @ 164.308 on Nov' 16th is the first touch of the Falling Resistance followed by the failed attempt at a Higher High @ 163.719 on Nov' 26th forming what could potentially be a Descending Triangle Pattern!

**Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!

Fundamentally this week:
EUR - CPI (Wed), Flash CPI & OPEC (Thur) and President Lagarde Speaks (Fri)
JPY - OPEC (Thur)

-Bearish Prediction-
If Price Breaks and Closes above 163.719, Set-Up INVALIDATED!
If Price Breaks and Closes below 161.245, Price Action will initiate my Trade Action Plan!