EUR/JPY – 30M – SELL

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

A continuation of the downward movement downwards to the next support level at 159.58400 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance zone at 160.33800 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 159.47114 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 160.33800 could occur.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘Bearish Engulfing’ candle pattern is found. The chart forms ‘Bearish Engulfing’. which is a negative 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%.

Download EUR/JPY Signal Image

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