EUR/JPY – 1H – SELL

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

A bearish descent down to the next support level at 163.80100 is likely expected.

Caution: A possible change in the direction of the resistance level at 165.02900 should always be considered.
Consider stop-loss settings accordingly.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 163.621274 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support zone at 165.02900 should always be considered.
Consider stop-loss settings accordingly.

Then a ‘Three Black Crows’ chart pattern is discovered. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.

Download EUR/JPY Signal Image

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