EUR/JPY – 1H – SELL

The combination Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.

A descending movement down to the next support line at 163.01700 is expected.

Caution: A possible counter-trend in the direction of resistance at 164.82700 should always be considered.
Consider stop-loss settings accordingly.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 163.5825 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 164.82700 should always be considered.
Consider stop-loss settings accordingly.

Then a ‘Three Black Crows’ chart pattern is existing. The chart shows ‘Three Black Crows’. 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 probability of ‘Three Black Crows’ heading down is 82%.

Download EUR/JPY Signal Image

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