USD/JPY – 4H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the bullish trendline down.
A descending movement down to the next support at 156.23700 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 158.08100 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three Black Crows’ candle pattern is discovered. The candles form ‘Three Black Crows’. which is a bearish pattern signal. The currency 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 | 158.08100 |
| Current Price | 157.92500 |
| Next Low | 156.23700 |
| 2nd Low | 156.01700 |
| 3rd Low | 153.15600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows