EUR/JPY – 1H – BUY

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

The bearish trend downwards to the next support level at 157.55500 is expected.

Caution: A possible reversal of the trend in the direction of the resistance line at 159.38600 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 157.78 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 159.38600 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Bearish Breakaway’ candlestick chart pattern is discovered. The chart shows ‘Bearish Breakaway’. 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 chance of ‘Bearish Breakaway’ heading down is 63% (Bull Market) & 89% (Bear Market).

Download EUR/JPY Signal Image

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