EUR/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Current target is 163.838548 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 164.65100 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Black Crows’ chart pattern is found. The chart forms ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.89600 |
| 2nd High | 165.41800 |
| Next High | 164.65100 |
| Current Price | 164.13500 |
| Next Low | 164.05400 |
| 2nd Low | 163.23800 |
| 3rd Low | 163.20300 |