EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) jumps from the descending trendline downwards
A continuation of the downward movement downwards to the next support line at 161.10800 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 162.46900 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Next 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 fall. 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 | 163.76900 |
| 2nd High | 162.48600 |
| Next High | 162.46900 |
| Current Price | 161.16100 |
| Next Low | 161.10800 |
| 2nd Low | 160.65800 |
| 3rd Low | 159.63400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows