EUR/JPY – 1H – SELL

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

A descending movement down to the next support at 161.38200 is likely expected.

Caution: A possible change in the direction of the resistance level at 164.01700 is also possible.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 162.897 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 164.01700 is also possible.
Consider stop-loss settings accordingly.

Next a ‘Three Black Crows’ candle pattern is discovered. The chart shows ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.

Download EUR/JPY Signal Image

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows