USD/JPY – 1H – SELLThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline down.
The bearish trend downwards to the next support at 156.50700 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 157.334 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Tweezers Top’ candlestick chart pattern is detected. The candles show ‘Tweezers Top’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 159.452 |
| 2nd High | 159.223 |
| Next High | 157.334 |
| Current Price | 156.95500 |
| Next Low | 156.50700 |
| 2nd Low | 155.302 |
| 3rd Low | 152.677 |
157.334 – 156.079 – 155.784 – 156.50700 – 156.527 – 155.302 —
156.78400 – 156.98700 —
43.672213905257 – 56.890265246795 —
156.50700 – 1770346800 —
157.334 – 1770289200
Trading Signals: FOREX – USD – USD/JPY – JPY – Tweezers Top – – – – – – – – –