USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the bullish trendline down.
A descent down to the next support line at 156.361 is considered certain.
Caution: A possible change in the direction of the resistance level at 156.798 is also possible.
Consider stop-loss settings accordingly.
And also a ‘MACD crosses below signal’ indicator layout is discovered. The indicator shows ‘MACD crosses below signal’. this is usually a bearish signal. The currency pair could go down.
And also a ‘Three Outside Down’ candle chart pattern is detected. The candles show ‘Three Outside Down’. which is a bearish signal. 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’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 157.295 |
| 2nd High | 156.803 |
| Next High | 156.798 |
| Current Price | 156.66200 |
| Next Low | 156.361 |
| 2nd Low | 156.293 |
| 3rd Low | 156.16 |
156.798 – 156.803 – 156.746 – 156.361 – 156.293 – 156.16 —
156.71700 – 156.95300 —
51.713623163559 – 68.752020361135 —
– —
156.79800 – 1767808800
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down – – – – – – – – –