EUR/JPY – 30M – SELL

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

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

Caution: A possible counter-trend in the direction of resistance at 183.739 could occur.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish signal. The currency pair could go down.

In addition a ‘StochRSI %K line crosses below %D line’ indicator signal is found. The indicator shows ‘StochRSI %K line crosses below %D line’. which is often a bearish signal. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 182.9225 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 183.739 could occur.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘Three Outside Down’ candle chart pattern is detected. The chart shows ‘Three Outside Down’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

183.739 – 183.572 – 183.766 – 182.079 – 183.082 – 182.57 —
183.88700 – 183.56000 —
64.26591760222 – 47.157541686225 —
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183.73900 – 1769677200

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