EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline downwards
A continuation of the downward movement downwards to the next support line at 160.98500 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 162.11200 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Black Crows’ candlestick pattern is detected. The candles form ‘Three Black Crows’. this is a bearish signal. The currency 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 | 163.76900 |
| 2nd High | 162.48600 |
| Next High | 162.11200 |
| Current Price | 161.61200 |
| Next Low | 160.98500 |
| 2nd Low | 159.90400 |
| 3rd Low | 158.69600 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows