USD/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 153.156 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support level at 154.34100 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Engulfing’ candle pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.48600 |
| 2nd High | 154.47600 |
| Next High | 154.34100 |
| Current Price | 153.35100 |
| Next Low | 153.15600 |
| 2nd Low | 151.79600 |
| 3rd Low | 151.00000 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing