USD/JPY – 1H – SELLThe combination US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline downwards
A bearish descent downwards to the next support at 151.79600 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 154.72000 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candle chart pattern is found. The candles form ‘Three Black Crows’. which is a bearish signal. The currency 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 | 155.88500 |
| 2nd High | 155.02100 |
| Next High | 154.72000 |
| Current Price | 153.66100 |
| Next Low | 151.79600 |
| 2nd Low | 151.00000 |
| 3rd Low | 150.89300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows