EUR/JPY – 1H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at 157.55500 is expected.
Caution: A possible change in the direction of the resistance line at 159.38600 could happen.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle chart pattern is discovered. The chart shows ‘Three Black Crows’. which is a bearish pattern 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.00700 |
| 2nd High | 160.33800 |
| Next High | 159.38600 |
| Current Price | 158.70400 |
| Next Low | 157.55500 |
| 2nd Low | 156.17400 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows