USD/JPY – 1H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the descending trendline down.
A continuation of the downward movement down to the next support at 143.97200 will persist.
Caution: A possible change in the direction of the resistance line at 144.77000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which could be a negative chart scenario. The currency pair could go down.
Besides a ‘Northern Doji’ candlestick chart pattern is existing. The chart forms ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 146.28400 |
| 2nd High | 145.08600 |
| Next High | 144.77000 |
| Current Price | 144.60200 |
| Next Low | 143.97200 |
| 2nd Low | 142.52800 |
| 3rd Low | 142.37500 |
144.77000 – 145.08600 – 143.97200 – 143.97200 – 142.52800 – 143.67200
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji