EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline down.
A descent downwards to the next support level at 162.60100 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 164.54500 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three Black Crows’ candlestick chart pattern is detected. 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 likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.89900 |
| 2nd High | 164.86400 |
| Next High | 164.54500 |
| Current Price | 163.64400 |
| Next Low | 162.60100 |
| 2nd Low | 162.48800 |
| 3rd Low | 161.62200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows