USD/JPY – 1H – SELL

The combination US Dollar/Japanese Yen (USD/JPY) goes from the descending trendline downwards

A continuation of the bearish trend down to the next support level at 159.23 is considered certain.

Caution: A possible change in the direction of the resistance zone at 159.742 should always be considered.
Consider stop-loss settings accordingly.

And also a ‘Bearish Engulfing’ chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

159.742 – 159.97 – 160.459 – 159.23 – 158.271 – 159.324 —
159.72200 – 159.64700 —
61.220985786159 – 60.199097950651 —
– —
159.742 – 1775138400

Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing – – – – – – – – –