USD/JPY – 1H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline downwards
A bearish movement downwards to the next support line at 157.37200 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 158.54900 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Falling Window’ candlestick chart pattern is existing. The chart shows ‘Falling Window’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Falling Window’ heading down is 67% (Bull Market) and 73% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.54900 |
| Current Price | 158.30000 |
| Next Low | 157.37200 |
| 2nd Low | 156.23700 |
| 3rd Low | 156.01700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Falling Window