EUR/JPY – 4H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline downwards
The bearish trend down to the next support at 182.807 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 184.422 should be noted.
Consider stop-loss settings accordingly.
And also a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish chart signal. The currency pair could go down.
And also a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. this is usually a bearish signal. The pair is likely to go down.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Current target is 182.356308 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support zone at 184.422 should be noted.
Consider stop-loss settings accordingly.
And also a ‘Two Crows’ candle chart pattern is existing. The candles show ‘Two Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 184.918 |
| Next High | 184.422 |
| Current Price | 182.81300 |
| Next Low | 182.807 |
| 2nd Low | 181.565 |
| 3rd Low | 180.091 |
184.422 – 184.918 – 183.153 – 182.807 – 183.412 – 183.283 —
183.36500 – 183.35200 —
39.657981644356 – 44.235896570508 —
– —
184.42200 – 1767326400
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Two Crows – Double bottom retreat down – – – – – – – –