EUR/JPY – 1H – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline downwards
The bearish trend down to the next support at 164.02100 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 164.82700 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Black Crows’ candle chart pattern is found. The candles show ‘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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 165.02900 |
| Next High | 164.82700 |
| Current Price | 164.66700 |
| Next Low | 164.02100 |
| 2nd Low | 163.01700 |
| 3rd Low | 162.84100 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows