USD/JPY – 1H – SELLThe combination US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline down.
A descending movement down to the next support line at 155.302 is considered certain.
Caution: A possible change in the direction of the resistance level at 159.223 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Last Engulfing Top’ candlestick chart pattern is found. The candles show ‘Last Engulfing Top’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 159.452 |
| Next High | 159.223 |
| Current Price | 157.00400 |
| Next Low | 155.302 |
| 2nd Low | 152.677 |
| 3rd Low | 152.093 |
156.079 – 155.784 – 155.509 – 155.302 – 152.677 – 152.093 —
156.93800 – 157.05900 —
68.591728578044 – 67.257532058698 —
– —
156.079 – 1770134400
Trading Signals: FOREX – USD – USD/JPY – JPY – Last Engulfing Top – – – – – – – – –