EUR/JPY – 30M – SELL

Then a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Current target is 183.1775 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 184.276 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘On Neck’ candle pattern is found. The chart forms ‘On Neck’. 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 success rate of a ‘On Neck’ heading down is 56% (Bull Market) & 58% (Bear Market).

184.276 – 184.067 – 183.739 – 182.079 – 183.082 – 182.57 —
183.77400 – 183.91000 —
46.281565801844 – 54.122009625115 —
– —
184.27600 – 1770001200

Trading Signals: FOREX – EUR – EUR/JPY – JPY – On Neck – – – – – – – – –