USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the bullish trendline downwards
A descent down to the next support level at 156.01700 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 157.54400 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 157.0425 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 157.54400 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Two Crows’ candle pattern is discovered. The chart shows ‘Two Crows’. 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 likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.08100 |
| 2nd High | 158.06800 |
| Next High | 157.54400 |
| Current Price | 157.43200 |
| Next Low | 156.01700 |
| 2nd Low | 155.94900 |
| 3rd Low | 153.33100 |