USD/JPY – 1H – SELLThe pair US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline down.
The bearish trend down to the next support line at 151.79600 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 154.47600 is also possible.
Consider stop-loss settings accordingly.
Also there is a ‘Three Black Crows’ candle chart pattern is existing. The candles form ‘Three Black Crows’. which is a negative signal. The 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 | 155.02100 |
| 2nd High | 154.72000 |
| Next High | 154.47600 |
| Current Price | 153.55400 |
| Next Low | 151.79600 |
| 2nd Low | 151.00000 |
| 3rd Low | 150.89300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows