EUR/JPY – 1H – SELL

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

A continuation of the downtrend down to the next support line at 161.38200 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 163.50600 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 161.382 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support level at 163.50600 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Black Crows’ candlestick chart pattern is found. The chart forms ‘Three Black Crows’. this is a bearish chart scenario. 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 Black Crows’ going down is 82%.

Download EUR/JPY Signal Image

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