EUR/JPY – 1H – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline down.
A bearish trend down to the next support level at 161.38200 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 164.89900 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Black Crows’ candle chart pattern is discovered. The chart shows ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 165.02900 |
| Next High | 164.89900 |
| Current Price | 164.00500 |
| Next Low | 161.38200 |
| 2nd Low | 160.89500 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows