USD/JPY – 4H – SELLThe combination US Dollar/Japanese Yen (USD/JPY) jumps from the bullish trendline down.
A descent downwards to the next support line at 156.01700 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 157.84800 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend will persist. Current target is 155.853396 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 157.84800 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 158.08100 |
| Next High | 157.84800 |
| Current Price | 157.42400 |
| Next Low | 156.01700 |
| 2nd Low | 153.15600 |
| 3rd Low | 149.35800 |