EUR/JPY – 4H – SELL

The combination Euro/Japanese Yen (EUR/JPY) goes from the bearish trendline down.

A continuation of the downtrend downwards to the next support at 182.024 will continue.

Caution: A possible trend reversal in the direction of the resistance level at 184.689 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Target of the current trend is 182.7845 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 184.689 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Last Engulfing Top’ candlestick chart pattern is discovered. The candles show ‘Last Engulfing Top’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).

184.689 – 184.768 – 183.153 – 182.024 – 181.988 – 180.816 —
183.76100 – 183.88500 —
57.935039546015 – 58.286097150296 —
– —
184.689 – 1772424000

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Last Engulfing Top – Rising Wedge Chart Pattern – – – – – – – –