EUR/JPY – 1H – SELL

The pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline down.

A bearish descent down to the next support at 183.215 is expected.

Caution: A possible change in the direction of the resistance line at 183.61 should always be considered.
Consider stop-loss settings accordingly.

Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart scenario. The pair is likely to go down.

Next a ‘StochRSI %K line crosses below %D line’ indicator signal is existing. The indicator is ‘StochRSI %K line crosses below %D line’. which is often a bearish chart scenario. The pair is likely to go down.

Next a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. this is usually a bearish chart scenario. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 183.29372 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 183.61 should always be considered.
Consider stop-loss settings accordingly.

Next a ‘Last Engulfing Top’ candlestick pattern is detected. The chart shows ‘Last Engulfing Top’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).

183.61 – 184.073 – 183.761 – 183.215 – 183.588 – 183.403 —
183.54500 – 183.45500 —
44.111093604472 – 45.632544603251 —
– —
183.61 – 1773345600

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Last Engulfing Top – – – – – – – – –