EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline downwards
A bearish descent downwards to the next support level at 163.20600 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 164.54500 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Black Crows’ candle pattern is existing. The chart shows ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to fall. 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 | 164.89900 |
| 2nd High | 164.86400 |
| Next High | 164.54500 |
| Current Price | 163.28200 |
| Next Low | 163.20600 |
| 2nd Low | 162.60100 |
| 3rd Low | 162.48800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows