EUR/JPY – 1H – SELL

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

A continuation of the downtrend downwards to the next support at 182.631 is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 185.568 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which could be a negative signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 183.324132 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 185.568 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Matching Low’ chart pattern is found. The candles show ‘Matching Low’. 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 success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).

185.568 – 185.534 – 183.95 – 184.174 – 184.257 – 182.631 —
184.59000 – 184.30100 —
43.266747625864 – 38.275309432451 —
– —
185.56800 – 1768377600

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Matching Low – Double bottom chart pattern – – – – – – – –