USD/JPY – 30M – SELLThe pair US Dollar/Japanese Yen (USD/JPY) goes from the descending trendline downwards
A continuation of the bearish trend downwards to the next support line at 156.88600 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 157.37900 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Black Crows’ candle pattern is detected. The candles form ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 157.92300 |
| 2nd High | 157.39000 |
| Next High | 157.37900 |
| Current Price | 157.12500 |
| Next Low | 156.88600 |
| 2nd Low | 156.46100 |
| 3rd Low | 155.94900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows