USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 156.45200 is considered certain.
Caution: A possible change in the direction of the resistance level at 156.953 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘%K crosses below %D’ indicator signal is existing. The indicator shows ‘%K crosses below %D’. which could be a negative chart signal. The pair is likely to go down.
Furthermore a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which is often a bearish chart signal. The pair is likely to go down.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 156.5565 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 156.953 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Outside Down’ chart pattern is discovered. The candles form ‘Three Outside Down’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 157.569 |
| 2nd High | 157.295 |
| Next High | 156.953 |
| Current Price | 156.71900 |
| Next Low | 156.45200 |
| 2nd Low | 156.361 |
| 3rd Low | 156.293 |
156.953 – 156.798 – 156.803 – 156.45200 – 156.361 – 156.293 —
156.59800 – 156.77800 —
42.991445040291 – 55.40598187113 —
156.45200 – 1767866400 —
156.95300 – 1767844800
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down – – – – – – – – –