EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at is certain.
Caution: A possible trend reversal in the direction of the resistance level at 162.01500 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart signal. The pair is likely to go down.
Furthermore a ‘Three Black Crows’ candle chart pattern is discovered. The chart forms ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.80100 |
| 2nd High | 162.63200 |
| Next High | 162.01500 |
| Current Price | 161.81300 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
162.01500 – 162.63200 – 162.26200 – 161.69400 – 161.23900 – 161.49400
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows