USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) goes from the ascending trendline downwards
A bearish descent down to the next support at 155.05400 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 155.88500 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ chart pattern is found. The candles form ‘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 success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 156.74500 |
| Next High | 155.88500 |
| Current Price | 155.29700 |
| Next Low | 155.05400 |
| 2nd Low | 154.52500 |
| 3rd Low | 153.27500 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows