EUR/JPY – 1H – SELL

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

A continuation of the downtrend down to the next support level at 180.18900 is likely expected.

Caution: A possible trend reversal in the direction of the resistance zone at 181.268 should be noted.
Consider stop-loss settings accordingly.

Furthermore a ‘Support Level’ indicator layout is discovered. The indicator is ‘Support Level’. this is usually a bearish chart scenario. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 180.189 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 181.268 should be noted.
Consider stop-loss settings accordingly.

Furthermore a ‘Three Outside Down’ candle chart pattern is found. The candles form ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

181.268 – 181.515 – 181.458 – 180.18900 – 180.523 – 180.751 —
180.37300 – 180.53100 —
27.414829707465 – 42.682738676771 —
180.18900 – 1764565200 —
181.26800 – 1764360000

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Down – Double bottom chart pattern – – – – – – – –