EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline down.
A bearish movement down to the next support at 162.60100 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 163.80500 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Black Crows’ candle chart pattern is discovered. The candles form ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. 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 | 164.86400 |
| 2nd High | 164.54500 |
| Next High | 163.80500 |
| Current Price | 162.98400 |
| Next Low | 162.60100 |
| 2nd Low | 162.48800 |
| 3rd Low | 161.62200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows