EUR/JPY – 1H – SELL

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

A descending movement down to the next support level at 183.336 will persist.

Caution: A possible reversal of the trend in the direction of resistance at 185.501 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart signal. The currency pair is likely to fall.

Moreover a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. which could be a negative 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 will persist. Current target is 184.3425 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 185.501 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Outside Down’ chart pattern is found. The chart forms ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

185.501 – 184.276 – 183.739 – 184.675 – 183.336 – 183.184 —
185.18800 – 184.99700 —
45.965156679573 – 47.813730876901 —
– —
185.501 – 1770285600

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Down – Rising Wedge Chart Pattern – – – – – – – –