EUR/JPY – 30M – SELL

The combination Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline downwards

A continuation of the downward movement downwards to the next support level at 182.925 is certain.

Caution: A possible trend reversal in the direction of the resistance level at 183.174 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

183.174 – 182.725 – 182.919 – 182.925 – 181.866 – 182.17 —
183.18200 – 183.14100 —
64.258945321701 – 53.48679766582 —
– —
183.174 – 1773700200

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Engulfing – – – – – – – – –