EUR/JPY – 1H – SELL

The pair Euro/Japanese Yen (EUR/JPY) goes from the bearish trendline downwards

A continuation of the bearish trend downwards to the next support at 160.65800 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 162.46900 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 160.5565 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 162.46900 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Three Black Crows’ candlestick pattern is found. The candles form ‘Three Black Crows’. which is a negative pattern signal. 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