EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 161.38200 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 163.18400 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ candlestick chart pattern is found. The candles show ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.80500 |
| 2nd High | 163.50600 |
| Next High | 163.18400 |
| Current Price | 161.50600 |
| Next Low | 161.38200 |
| 2nd Low | 160.89500 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Black Crows