USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline downwards
A descent downwards to the next support at 157.92400 will continue.
Caution: A possible change in the direction of resistance at 158.42200 should always be considered.
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 continue. Target of the current trend is 157.90634 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 158.42200 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three Outside Down’ candle pattern is existing. The candles form ‘Three Outside Down’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.42200 |
| Current Price | 158.21600 |
| Next Low | 157.92400 |
| 2nd Low | 157.37200 |
| 3rd Low | 156.23700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down