USD/JPY – 1H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline downwards
A descending movement downwards to the next support line at 153.15600 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Line Strike – Bearish’ candle pattern is discovered. The candles form ‘Three Line Strike – Bearish’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 157.27200 |
| Next Low | 153.15600 |
| 2nd Low | 151.79600 |
| 3rd Low | 151.00000 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Line Strike – Bearish