EUR/JPY – 1H – SELLThe pair Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline downwards
A descending movement down to the next support at 160.76900 is expected.
Caution: A possible change in the direction of the resistance line at 162.46900 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Black Crows’ candlestick pattern is existing. The chart shows ‘Three Black Crows’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.75300 |
| 2nd High | 162.48600 |
| Next High | 162.46900 |
| Current Price | 161.05700 |
| Next Low | 160.76900 |
| 2nd Low | 160.65800 |
| 3rd Low | 159.10300 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows