USD/JPY – 1H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline downwards
The bearish trend downwards to the next support at 151.79600 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 154.72000 is within the realm of possibility.
Consider stop-loss settings accordingly.
Additionally a ‘Three Black Crows’ candlestick pattern is discovered. The chart shows ‘Three Black Crows’. which is a bearish pattern signal. The pair is likely to go down. 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 | 155.88500 |
| 2nd High | 155.02100 |
| Next High | 154.72000 |
| Current Price | 154.05400 |
| Next Low | 151.79600 |
| 2nd Low | 151.00000 |
| 3rd Low | 150.89300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows