USD/JPY – 1H – SELLThe combination US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline down.
A bearish trend down to the next support line at 157.37200 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 158.42200 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Belt Hold’ chart pattern is discovered. The chart forms ‘Bearish Belt Hold’. 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 success rate of a ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.42200 |
| Current Price | 158.21600 |
| Next Low | 157.37200 |
| 2nd Low | 156.23700 |
| 3rd Low | 156.01700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Belt Hold