USD/JPY – 30M – SELLIn addition a ‘Double top retreat up’ chart layout is existing. The chart picture shows ‘Double top retreat up’. which is a bullish chart scenario. The pair is likely to go up.
The combination US Dollar/Japanese Yen (USD/JPY) goes from the descending trendline downwards
A continuation of the downtrend downwards to the next support line at 142.77300 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 143.90000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. which is often a bearish chart signal. The currency pair could go down.
In addition a ‘Three Black Crows’ candlestick chart pattern is detected. The chart shows ‘Three Black Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 145.46400 |
| 2nd High | 144.13900 |
| Next High | 143.90000 |
| Current Price | 142.92100 |
| Next Low | 142.77300 |
| 2nd Low | 142.52800 |
| 3rd Low | 142.37500 |
143.90000 – 144.13900 – 145.46400 – 143.18200 – 144.32200 – 144.65000
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows