USD/JPY – 1H – SELLThe pair US Dollar/Japanese Yen (USD/JPY) goes from the bearish trendline down.
A continuation of the bearish trend down to the next support level at 156.23700 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 157.95900 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ candlestick chart pattern is existing. The chart forms ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.08100 |
| 2nd High | 158.06800 |
| Next High | 157.95900 |
| Current Price | 157.42400 |
| Next Low | 156.23700 |
| 2nd Low | 156.01700 |
| 3rd Low | 155.94900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows