EUR/JPY – 1H – SELL

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

A continuation of the bearish trend down to the next support level at is expected.

Caution: A possible change in the direction of the resistance level at 183.123 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish signal. The currency pair could go down.

Also there is a ‘Bearish Engulfing’ candle pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

183.123 – 183.223 – 184.689 – 182.112 – 182.372 – 182.024 —
182.75900 – 182.79900 —
50.566403077027 – 51.897794695218 —
– —
183.123 – 1772629200

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing – Symmetrical Triangle Chart Pattern – – – – – – – –