USD/JPY – 4H – SELL

The currency pair US Dollar/Japanese Yen (USD/JPY) moves from the descending trendline down.

A continuation of the bearish trend downwards to the next support level at 142.67800 is likely expected.

Caution: A possible change in the direction of the resistance zone at 148.02500 should always be considered.
Consider stop-loss settings accordingly.

Moreover a ‘Bearish Breakaway’ candlestick chart pattern is discovered. The candles form ‘Bearish Breakaway’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Breakaway’ heading down is 63% (Bull Market) & 89% (Bear Market).

148.02500 – 145.46400 – 144.39000 – 142.67800 – 143.74900 – 144.32200 — 64.195872576258 – 63.692909288267 — 62.432667024074 – 51.933828597687 – 70.2049985959 – 62.802838834852

Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Breakaway – – –