EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.
A bearish trend down to the next support line at 161.02900 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 161.48000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Black Crows’ candle pattern is discovered. The chart shows ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.48600 |
| 2nd High | 162.46900 |
| Next High | 161.48000 |
| Current Price | 161.22300 |
| Next Low | 161.02900 |
| 2nd Low | 160.76900 |
| 3rd Low | 160.65800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows