USD/JPY – 30M – SELL

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

A continuation of the bearish trend down to the next support line at 159.48200 will continue.

Caution: A possible trend reversal in the direction of the resistance level at 159.809 is also possible.
Consider stop-loss settings accordingly.

Additionally a ‘Three Outside Down’ candlestick pattern is detected. The chart forms ‘Three Outside Down’. 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 probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

159.809 – 159.711 – 159.722 – 159.48200 – 159.425 – 159.23 —
159.56700 – 159.64100 —
42.392310334602 – 56.332313699975 —
159.48200 – 1775233800 —
159.809 – 1775230200

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