EUR/JPY – 30M – SELL

The pair Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline down.

A bearish descent downwards to the next support level at 160.65800 is likely expected.

Caution: A possible change in the direction of the resistance level at 162.46900 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 160.24069 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support zone at 162.46900 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Three Black Crows’ candle pattern is found. The candles form ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.

Download EUR/JPY Signal Image

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