USD/JPY – 30M – SELLThe pair US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline down.
The bearish trend down to the next support at 146.984 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 148.574 is within the realm of possibility.
Consider stop-loss settings accordingly.
Then a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. which is often a bearish signal. The pair is likely to go down.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 147.505772 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support line at 148.574 is within the realm of possibility.
Consider stop-loss settings accordingly.
Then a ‘Three Outside Down’ candlestick pattern is existing. The candles form ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 150.485 |
| 2nd High | 148.776 |
| Next High | 148.574 |
| Current Price | 147.74900 |
| Next Low | 146.984 |
| 2nd Low | 146.304 |
| 3rd Low | 146.211 |
147.641 – 147.583 – 147.57 – 146.984 – 147.244 – 146.304 — 66.56607508682 – 61.486647494241 — 89.935390665757 – 73.106197412951 – 96.645130221919 – 87.680529359569
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down – – –