EUR/JPY – 1H – SELL

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

A continuation of the downtrend down to the next support line at 162.26000 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 165.02900 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 162.913484 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of support at 165.02900 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Three Black Crows’ candle chart pattern is discovered. The candles form ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.

Download EUR/JPY Signal Image

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