USD/JPY – 1H – SELLThe combination US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline down.
A bearish movement down to the next support line at 156.23700 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 157.95900 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Three Black Crows’ candle chart pattern is found. The candles form ‘Three Black Crows’. this is a bearish pattern signal. The pair is likely to go down. 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 | 158.08100 |
| 2nd High | 158.06800 |
| Next High | 157.95900 |
| Current Price | 158.08000 |
| Next Low | 156.23700 |
| 2nd Low | 156.01700 |
| 3rd Low | 155.94900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows