EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline down.
A bearish trend down to the next support at 161.48700 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 164.75300 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Black Crows’ candlestick pattern is detected. The candles show ‘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 chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.41800 |
| 2nd High | 165.02900 |
| Next High | 164.75300 |
| Current Price | 163.75600 |
| Next Low | 161.48700 |
| 2nd Low | 161.00600 |
| 3rd Low | 158.69600 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows