USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support line at 150.45300 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 151.74600 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Three Black Crows’ candle pattern is detected. The chart shows ‘Three Black Crows’. which is a negative pattern 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 | 154.21600 |
| 2nd High | 151.80100 |
| Next High | 151.74600 |
| Current Price | 151.53500 |
| Next Low | 150.45300 |
| 2nd Low | 149.08300 |
| 3rd Low | 148.86600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows