EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline downwards
The bearish trend down to the next support line at 160.57000 is likely expected.
Caution: A possible change in the direction of the resistance line at 162.00700 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Black Crows’ chart pattern is discovered. 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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.48600 |
| 2nd High | 162.11200 |
| Next High | 162.00700 |
| Current Price | 160.53200 |
| Next Low | 160.57000 |
| 2nd Low | 159.90400 |
| 3rd Low | 158.69600 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows