USD/JPY – 4H – SELLThe combination US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline down.
A bearish descent down to the next support line at 153.15600 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 157.92300 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three Black Crows’ candlestick chart pattern is found. The candles show ‘Three Black Crows’. which is a bearish pattern signal. 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 | |
| 2nd High | |
| Next High | 157.92300 |
| Current Price | 157.57200 |
| Next Low | 153.15600 |
| 2nd Low | 149.35800 |
| 3rd Low | 148.64200 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows