USD/JPY – 30M – SELL

The pair US Dollar/Japanese Yen (USD/JPY) jumps from the bearish trendline down.

A continuation of the downward movement down to the next support level at 142.79100 is considered certain.

Caution: A possible counter-trend in the direction of the resistance level at 144.50800 should always be considered.
Consider stop-loss settings accordingly.

Next a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 143.436 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 144.50800 should always be considered.
Consider stop-loss settings accordingly.

Next a ‘Three Outside Down’ candle pattern is existing. The chart forms ‘Three Outside Down’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

144.50800 – 144.94500 – 144.80500 – 143.43600 – 143.77800 – 144.17200

Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down –