USD/JPY – 1H – SELL

The currency pair US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline downwards

A bearish trend down to the next support at 157.504 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance zone at 159.895 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart scenario. The pair is likely to go down.

Moreover a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which is often a bearish chart scenario. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 158.6995 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support line at 159.895 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Three Outside Down’ chart pattern is found. The chart shows ‘Three Outside Down’. 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 ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

159.895 – 159.134 – 159.493 – 157.504 – 158.564 – 158.72 —
159.61800 – 159.62900 —
64.207113024951 – 63.234100998948 —
– —
159.895 – 1773874800

Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down – – – – – – – – –