EUR/JPY – 30M – SELL

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

A bearish trend downwards to the next support level at 162.12200 is likely expected.

Caution: A possible counter-trend in the direction of the resistance line at 163.32700 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 161.836 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support line at 163.32700 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Three Black Crows’ candle chart pattern is detected. The candles show ‘Three Black Crows’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.

163.32700 – 163.75200 – 163.14700 – 162.88700 – 162.12200 – 161.85900

Download EUR/JPY Signal Image

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