The pair Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline downwards
A continuation of the downtrend down to the next support line at 159.80200 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 165.02900 is also possible.
Consider stop-loss settings accordingly.
Additionally a ‘Three Black Crows’ candlestick chart pattern is existing. The candles form ‘Three Black Crows’. which is a bearish 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’ heading down is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | |
2nd High | |
Next High | 165.02900 |
Current Price | 163.12200 |
Next Low | 159.80200 |
2nd Low | 158.64400 |
3rd Low | 157.86000 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows