EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline downwards
A descent downwards to the next support level at 162.84100 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 163.61600 could happen.
Consider stop-loss settings accordingly.
Then a ‘Three Black Crows’ candle chart pattern is discovered. The chart shows ‘Three Black Crows’. which is a negative 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 | 163.79700 |
| 2nd High | 163.65900 |
| Next High | 163.61600 |
| Current Price | 163.14000 |
| Next Low | 162.84100 |
| 2nd Low | 162.50700 |
| 3rd Low | 162.33800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows