USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support level at 156.87200 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 157.82500 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Black Crows’ candle pattern is detected. The candles form ‘Three Black Crows’. which is a bearish pattern signal. 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 Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.06800 |
| 2nd High | 157.84800 |
| Next High | 157.82500 |
| Current Price | 156.78300 |
| Next Low | 156.87200 |
| 2nd Low | 156.63200 |
| 3rd Low | 156.43300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows