EUR/JPY – 1H – SELL

In addition a ‘StochRSI %K line crosses below %D line’ indicator signal is existing. The indicator is ‘StochRSI %K line crosses below %D line’. this is usually a bearish signal. 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 182.8465 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support zone at 183.827 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Bearish Engulfing’ candle pattern is found. The candles form ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.

183.827 – 183.573 – 183.645 – 182.978 – 182.815 – 181.866 —
183.61800 – 183.41800 —
47.778860974523 – 46.600303138524 —
– —
183.827 – 1773853200

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