USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) moves from the bearish trendline downwards
A continuation of the downward movement downwards to the next support line at 157.63000 is expected.
Caution: A possible counter-trend in the direction of resistance at 157.98500 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Two Crows’ candlestick chart pattern is detected. The candles show ‘Two Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 158.08100 |
| Next High | 157.98500 |
| Current Price | 157.82000 |
| Next Low | 157.63000 |
| 2nd Low | 157.35000 |
| 3rd Low | 157.05500 |