USD/JPY – 30M – SELLThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the bullish trendline down.
A bearish trend downwards to the next support level at 150.89300 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 152.18000 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.48600 |
| 2nd High | 154.21600 |
| Next High | 152.18000 |
| Current Price | 151.72400 |
| Next Low | 150.89300 |
| 2nd Low | 149.68900 |
| 3rd Low | 149.35800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing