USD/JPY – 30M – SELLThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the descending trendline downwards
A continuation of the downward movement down to the next support level at 156.88600 is considered certain.
Caution: A possible change in the direction of the resistance zone at 157.17900 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Black Crows’ candle chart pattern is existing. The candles show ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 157.92300 |
| 2nd High | 157.39000 |
| Next High | 157.17900 |
| Current Price | 157.27200 |
| Next Low | 156.88600 |
| 2nd Low | 156.46100 |
| 3rd Low | 155.94900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows