EUR/JPY – 1H – SELL

The combination Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline downwards

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

Caution: A possible trend reversal in the direction of the resistance level at 183.123 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is discovered. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart scenario. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 182.024 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the support level at 183.123 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Matching Low’ candlestick chart pattern is detected. The candles show ‘Matching Low’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

183.123 – 183.223 – 184.689 – 182.372 – 182.024 – 183.63 —
182.51100 – 183.01800 —
46.33837796942 – 54.353137134071 —
– —
183.123 – 1772629200

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Matching Low – – – – – – – – –