EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support line at 157.11600 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 158.89000 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 157.958 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of support at 158.89000 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Black Crows’ candlestick pattern is found. The candles show ‘Three Black Crows’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.33800 |
| 2nd High | 159.97600 |
| Next High | 158.89000 |
| Current Price | 157.77400 |
| Next Low | 157.11600 |
| 2nd Low | 157.03700 |
| 3rd Low | 156.04200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows