USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the bearish trendline down.
A continuation of the downward movement down to the next support line at 156.16 is likely expected.
Caution: A possible change in the direction of the resistance zone at 156.791 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Tweezers Top’ candlestick chart pattern is found. The candles show ‘Tweezers Top’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 157.569 |
| 2nd High | 157.295 |
| Next High | 156.791 |
| Current Price | 156.68900 |
| Next Low | 156.16 |
| 2nd Low | 156.112 |
| 3rd Low | 155.918 |
156.791 – 157.295 – 156.998 – 156.16 – 156.112 – 156.696 —
156.47600 – 156.72700 —
49.260957636948 – 63.316668791023 —
– —
156.79100 – 1767666600
Trading Signals: FOREX – USD – USD/JPY – JPY – Tweezers Top – – – – – – – – –