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 at 158.22600 is expected.

Caution: A possible trend reversal in the direction of resistance at 159.97600 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 158.226 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support zone at 159.97600 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Three Black Crows’ candlestick chart pattern is existing. The chart forms ‘Three Black Crows’. 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 ‘Three Black Crows’ going down is 82%.

Download EUR/JPY Signal Image

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows