USD/JPY – 1H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the descending trendline down.
A continuation of the downtrend downwards to the next support at 149.65000 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 150.69400 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Black Crows’ candlestick pattern is discovered. The chart shows ‘Three Black Crows’. which is a bearish pattern signal. 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 | 151.94800 |
| 2nd High | 151.22600 |
| Next High | 150.69400 |
| Current Price | 149.65800 |
| Next Low | 149.65000 |
| 2nd Low | 148.64200 |
| 3rd Low | 148.39700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows