EUR/JPY – 1H – SELLThe pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline down.
A descent downwards to the next support level at 162.84100 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 163.61600 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Black Crows’ candlestick chart pattern is discovered. The chart forms ‘Three Black Crows’. which is a negative chart scenario. 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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.75300 |
| 2nd High | 163.79700 |
| Next High | 163.61600 |
| Current Price | 163.14000 |
| Next Low | 162.84100 |
| 2nd Low | 162.33800 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows