EUR/JPY – 1H – SELL

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

A continuation of the downward movement down to the next support at 183.714 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 184.843 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 183.64215 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support line at 184.843 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Three Outside Down’ candle pattern is found. The candles show ‘Three Outside Down’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

184.097 – 184.843 – 185.391 – 183.714 – 183.408 – 183.166 —
184.33500 – 184.39600 —
65.384073202511 – 57.761688343983 —
– —
184.097 – 1782421200

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Down – Symmetrical Triangle Chart Pattern – – – – – – – –