EUR/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 162.913484 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 163.97400 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Black Crows’ chart pattern is existing. The candles show ‘Three Black Crows’. this is a bearish signal. The pair is likely to go down. 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 | 165.41800 |
| 2nd High | 165.02900 |
| Next High | 163.97400 |
| Current Price | 163.22300 |
| Next Low | 163.10800 |
| 2nd Low | 162.26000 |
| 3rd Low | 161.99400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows