EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.
A bearish movement downwards to the next support at 160.76900 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 161.48000 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candlestick pattern is detected. The chart forms ‘Three Black Crows’. this is a bearish chart scenario. 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 | 162.48600 |
| 2nd High | 162.46900 |
| Next High | 161.48000 |
| Current Price | 161.05700 |
| Next Low | 160.76900 |
| 2nd Low | 160.65800 |
| 3rd Low | 159.63400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows