USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline downwards
A bearish descent down to the next support line at 157.93200 is expected.
Caution: A possible change in the direction of the resistance zone at 158.28200 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish Engulfing’ candle pattern is detected. The chart shows ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.54900 |
| 2nd High | 158.51800 |
| Next High | 158.28200 |
| Current Price | 158.34800 |
| Next Low | 157.93200 |
| 2nd Low | 157.57400 |
| 3rd Low | 157.37200 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing