EUR/JPY – 1H – SELL

Next a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Current target is 183.378 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support line at 184.768 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Bearish Belt Hold’ chart pattern is discovered. The chart shows ‘Bearish Belt Hold’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).

184.768 – 184.181 – 182.806 – 183.196 – 181.988 – 182.169 —
184.42100 – 184.27700 —
48.005467296802 – 48.124243020866 —
– —
184.768 – 1772053200

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Belt Hold – Rising Wedge Chart Pattern – – – – – – – –