Today, I am attempting to sell EURJPY, placing my stop loss at 177.15 and my take profit at 176.63. On the M15 timeframe, EURJPY is currently in a downtrend. In price action analysis, a downtrend is generally characterized by the formation of lower highs and lower lows. A lower high occurs when the price attempts to rise, but the peak of the rally is lower than the previous peak.