EUR/JPY – 30M – SELL

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

A continuation of the downtrend down to the next support level at is likely expected.

Caution: A possible change in the direction of the resistance line at 181.458 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart scenario. The currency pair could go down.

Then a ‘%K crosses below %D’ indicator layout is found. The indicator shows ‘%K crosses below %D’. which is often a bearish chart scenario. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 180.7755 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 181.458 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Southern Doji’ candle chart pattern is found. The chart shows ‘Southern Doji’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).

181.458 – 181.261 – 180.85 – 180.904 – 180.346 – 180.093 —
181.39900 – 181.33200 —
51.275347326219 – 48.126375162371 —
– —
181.45800 – 1764176400

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Southern Doji – Inverse Head and Shoulder chart pattern – – – – – – – –