EUR/JPY – 1H – SELLThe combination Euro/Japanese Yen (EUR/JPY) goes from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 162.84100 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 164.89900 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Black Crows’ candle chart pattern is found. The chart shows ‘Three Black Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 165.02900 |
| Next High | 164.89900 |
| Current Price | 162.86500 |
| Next Low | 162.84100 |
| 2nd Low | 162.33800 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows