EUR/JPY – 30M – SELL

The pair Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline down.

A continuation of the downward movement downwards to the next support at 162.44600 is likely expected.

Caution: A possible counter-trend in the direction of the resistance level at 163.40100 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 162.446 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 163.40100 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Three Outside Down’ candle chart pattern is found. The candles form ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/JPY Signal Image

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Down