EUR/JPY – 1H – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline downwards
The bearish trend down to the next support line at 162.33800 is expected.
Caution: A possible change in the direction of the resistance line at 163.79700 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ candlestick 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 chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.75300 |
| Next High | 163.79700 |
| Current Price | 162.92300 |
| Next Low | 162.33800 |
| 2nd Low | 159.80200 |
| 3rd Low | 159.10300 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows