USD/JPY – 1H – SELLThe pair US Dollar/Japanese Yen (USD/JPY) goes from the ascending trendline down.
The bearish trend downwards to the next support at 156.23700 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 157.95900 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Black Crows’ chart pattern is detected. The chart forms ‘Three Black Crows’. which is a negative 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.08100 |
| 2nd High | 158.06800 |
| Next High | 157.95900 |
| Current Price | 157.73000 |
| Next Low | 156.23700 |
| 2nd Low | 156.01700 |
| 3rd Low | 155.94900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows