EUR/JPY – 1H – SELLThe combination Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline downwards
A bearish movement downwards to the next support level at 159.80200 will persist.
Caution: A possible change in the direction of the resistance level at 163.31300 should always be considered.
Consider stop-loss settings accordingly.
Besides a ‘Three Black Crows’ candlestick chart pattern is existing. The candles form ‘Three Black Crows’. which is a negative chart scenario. 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.89900 |
| Next High | 163.31300 |
| Current Price | 161.49900 |
| Next Low | 159.80200 |
| 2nd Low | 159.10300 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows