EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline down.
A continuation of the downtrend downwards to the next support at 157.55500 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 158.58200 is also possible.
Consider stop-loss settings accordingly.
Also there is a ‘Three Black Crows’ candle pattern is found. The chart shows ‘Three Black Crows’. which is a negative chart scenario. 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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 159.97600 |
| 2nd High | 159.57100 |
| Next High | 158.58200 |
| Current Price | 158.03000 |
| Next Low | 157.55500 |
| 2nd Low | 156.97900 |
| 3rd Low | 156.17400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows