EUR/JPY – 1H – SELLThe combination Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline downwards
A descent down to the next support level at 157.86000 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 159.57100 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Three Black Crows’ candle pattern is found. The candles show ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.00700 |
| 2nd High | 160.33800 |
| Next High | 159.57100 |
| Current Price | 159.53600 |
| Next Low | 157.86000 |
| 2nd Low | 157.55500 |
| 3rd Low | 156.17400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows