EUR/JPY Rejection at Trendline – Bearish Move Ahead?

EUR/JPY 4-hour chart is respecting a long-term descending trendline, acting as dynamic resistance. Price recently tested this trendline near 162.018 - 164.073 and is now rejecting it, indicating a potential bearish move.

Bearish Confirmation & Entry:
Price failed to break above the 162.018 - 164.073 resistance zone, confirming a potential sell opportunity.
A downward movement is expected, targeting key support levels as marked.

Target Levels:
First Take Profit (TP1): 158.753 (Minor support zone)
Second Take Profit (TP2): 157.319 (Stronger support)
Third Take Profit (TP3): 156.202 (Significant demand area)
Final Take Profit (TP4): 154.786 (Major support and previous low)

Risk Management:
Stop-loss: Above 162.018 to protect against a potential breakout.
The trade setup offers a high risk-to-reward ratio, making it a strong candidate for a short position.