EUR/JPY – 4H – SELLThe combination Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline downwards
The bearish trend downwards to the next support line at 160.89500 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 164.89900 could happen.
Consider stop-loss settings accordingly.
And also a ‘Three Black Crows’ candle chart pattern is detected. The chart forms ‘Three Black Crows’. which is a negative signal. The currency 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 | |
| 2nd High | 165.02900 |
| Next High | 164.89900 |
| Current Price | 163.29900 |
| Next Low | 160.89500 |
| 2nd Low | 159.80200 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows