USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline down.
A descent downwards to the next support level at 150.89300 will persist.
Caution: A possible reversal of the trend in the direction of resistance at 151.94800 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Evening Star’ candlestick pattern is existing. The candles show ‘Evening Star’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.48600 |
| 2nd High | 154.21600 |
| Next High | 151.94800 |
| Current Price | 151.62500 |
| Next Low | 150.89300 |
| 2nd Low | 149.68900 |
| 3rd Low | 149.35800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Evening Star