EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at 162.84100 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 163.61600 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three Black Crows’ candlestick pattern is existing. The candles show ‘Three Black Crows’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.79700 |
| 2nd High | 163.65900 |
| Next High | 163.61600 |
| Current Price | 163.37700 |
| Next Low | 162.84100 |
| 2nd Low | 162.50700 |
| 3rd Low | 162.33800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows