EUR/JPY – 1H – SELL

The currency pair Euro/Japanese Yen (EUR/JPY) goes from the bearish trendline downwards

A continuation of the bearish trend downwards to the next support level at 182.112 is likely expected.

Caution: A possible trend reversal in the direction of the resistance line at 183.087 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘StochRSI %K falls below 0.8’ indicator signal is detected. The indicator shows ‘StochRSI %K falls below 0.8’. which could be a negative chart scenario. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 182.024 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the support line at 183.087 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Three Black Crows’ candle pattern is existing. The candles form ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.

183.087 – 183.123 – 183.223 – 182.112 – 182.372 – 182.024 —
183.12700 – 182.81900 —
62.206812212944 – 43.001418455659 —
– —
183.087 – 1772722800

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