EUR/JPY – 1H – SELL

The combination Euro/Japanese Yen (EUR/JPY) moves from the descending trendline down.

A continuation of the downward movement down to the next support line at is expected.

Caution: A possible counter-trend in the direction of the resistance line at 186.963 is also possible.
Consider stop-loss settings accordingly.

Besides a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which is often 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 expected. Target of the current trend is 186.538936 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of support at 186.963 is also possible.
Consider stop-loss settings accordingly.

Besides a ‘Matching Low’ candlestick pattern is detected. The candles show ‘Matching Low’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

186.963 – 187.32 – 187.361 – 186.413 – 186.552 – 186.987 —
186.64300 – 186.84900 —
39.787317205674 – 57.392817654986 —
– —
186.963 – 1776938400

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Matching Low – – – – – – – – –