USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) moves from the bearish trendline down.
A continuation of the downtrend downwards to the next support at 157.422 is certain.
Caution: A possible change in the direction of the resistance zone at 158.163 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘%K crosses below %D’ indicator layout is found. The indicator shows ‘%K crosses below %D’. which could be a negative chart signal. The pair is likely to go down.
There is also a ‘Northern Doji’ chart pattern is discovered. The candles form ‘Northern Doji’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.7 |
| 2nd High | 158.263 |
| Next High | 158.163 |
| Current Price | 158.11600 |
| Next Low | 157.422 |
| 2nd Low | 157.367 |
| 3rd Low | 156.744 |
158.163 – 158.263 – 158.7 – 157.422 – 157.819 – 158.008 —
158.10300 – 158.13000 —
56.9404289883 – 59.342662875181 —
– —
158.16300 – 1768822200
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – – – – – – – –