USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) jumps from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 155.83200 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 156.231 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Matching Low’ candle pattern is found. The chart shows ‘Matching Low’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 156.818 |
| 2nd High | 156.429 |
| Next High | 156.231 |
| Current Price | 156.05300 |
| Next Low | 155.83200 |
| 2nd Low | 155.534 |
| 3rd Low |
156.231 – 156.429 – 156.172 – 155.83200 – 155.534 – 155.828 —
155.90700 – 156.17900 —
44.878744345868 – 53.196306750693 —
155.83200 – 1772200800 —
156.231 – 1772190000
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low – – – – – – – – –