EUR/JPY – 1H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the descending trendline down.
A continuation of the downward movement down to the next support at 160.57000 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 162.11200 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three Black Crows’ candle pattern is detected. The chart forms ‘Three Black Crows’. this 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.75300 |
| 2nd High | 162.48600 |
| Next High | 162.11200 |
| Current Price | 161.15200 |
| Next Low | 160.57000 |
| 2nd Low | 159.90400 |
| 3rd Low | 158.69600 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows