EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline downwards
A continuation of the downward movement down to the next support line at 158.22600 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 159.97600 could occur.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ candle pattern is detected. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.70500 |
| 2nd High | 160.33800 |
| Next High | 159.97600 |
| Current Price | 158.35500 |
| Next Low | 158.22600 |
| 2nd Low | 158.09900 |
| 3rd Low | 157.11600 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows