USD/JPY – 1H – SELLThe combination US Dollar/Japanese Yen (USD/JPY) goes from the descending trendline downwards
A continuation of the bearish trend down to the next support at 155.94900 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 158.06800 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Black Crows’ candlestick pattern is detected. The chart shows ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 158.08100 |
| Next High | 158.06800 |
| Current Price | 156.38600 |
| Next Low | 155.94900 |
| 2nd Low | 153.15600 |
| 3rd Low | 151.79600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows