EUR/JPY – 1H – SELL

The currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline downwards

A bearish descent downwards to the next support line at 184.353 is likely expected.

Caution: A possible counter-trend in the direction of the resistance zone at 185.501 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ” indicator signal is found. The indicator shows ”. which is often a bearish chart scenario. The currency pair could go down.

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Next a ‘StochRSI %K line crosses below %D line’ indicator signal is found. The indicator shows ‘StochRSI %K line crosses below %D line’. which is often a bearish chart scenario. The currency pair could go down.

Next a ‘Bearish Engulfing’ candle pattern is found. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

185.501 – 184.276 – 183.739 – 184.353 – 184.675 – 183.336 —
185.52300 – 186.09700 —
62.766117629979 – 77.703621565579 —
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185.501 – 1770285600

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