EUR/JPY – 30M – SELL

The currency pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline downwards

A bearish descent down to the next support level at 184.691 will continue.

Caution: A possible counter-trend in the direction of the resistance line at 185.277 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Bearish Engulfing’ candlestick pattern is found. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

185.277 – 185.241 – 183.73 – 184.691 – 184.675 – 183.728 —
184.91500 – 185.49300 —
42.636547397438 – 63.844854395993 —
– —
185.277 – 1770262200

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing – – – – – – – – –