EUR/JPY – 1H – SELL

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

A continuation of the downtrend downwards to the next support at 161.15300 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance line at 162.45900 is within the realm of possibility.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Current target is 161.823 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support line at 162.45900 is within the realm of possibility.
Consider stop-loss settings accordingly.

Besides a ‘Three Outside Down’ candlestick chart pattern is existing. The candles show ‘Three Outside Down’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

Besides a ‘Head and Shoulder chart pattern’ chart layout is existing. The chart picture forms ‘Head and Shoulder chart pattern’. this is a bearish chart scenario. The currency pair is likely to fall.

Besides a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

162.45900 – 162.46200 – 162.31500 – 161.15300 – 160.97900 – 161.77200

Download EUR/JPY Signal Image

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Down