EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline down.
The bearish trend down to the next support at 162.60100 is likely expected.
Caution: A possible change in the direction of the resistance level at 164.38800 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Black Crows’ chart pattern is discovered. The candles show ‘Three Black Crows’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.89900 |
| 2nd High | 164.86400 |
| Next High | 164.38800 |
| Current Price | 164.00500 |
| Next Low | 162.60100 |
| 2nd Low | 162.48800 |
| 3rd Low | 161.62200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows