EUR/JPY – 30M – SELL

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

A descent down to the next support level at 183.63 is likely expected.

Caution: A possible trend reversal in the direction of resistance at 184.548 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘StochRSI %K line crosses below %D line’ indicator signal is found. The indicator shows ‘StochRSI %K line crosses below %D line’. which could be a negative chart signal. The pair is likely to go down.

Moreover a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bearish chart signal. The pair is likely to go down.

Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 184.331352 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support line at 184.548 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Collapsing Doji Star’ candle pattern is found. The chart shows ‘Collapsing Doji Star’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Collapsing Doji Star’ heading down is 63% (Bull Market).

184.548 – 184.469 – 184.421 – 183.63 – 183.927 – 183.697 —
184.36800 – 184.57300 —
49.960565615634 – 61.253213590297 —
– —
184.548 – 1772218800

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Collapsing Doji Star – – – – – – – – –