USD/JPY – 30M – SELLThe pair US Dollar/Japanese Yen (USD/JPY) moves from the descending trendline downwards
A continuation of the downward movement down to the next support line at 153.94800 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 155.35500 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Black Crows’ candle pattern is existing. The candles show ‘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 success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 156.74500 |
| 2nd High | 155.77800 |
| Next High | 155.35500 |
| Current Price | 153.42000 |
| Next Low | 153.94800 |
| 2nd Low | 153.83600 |
| 3rd Low | 153.40300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows