USD/JPY – 1H – SELL

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

A bearish trend downwards to the next support line at 159.1 is considered certain.

Caution: A possible trend reversal in the direction of resistance at 159.636 could happen.
Consider stop-loss settings accordingly.

Next a ‘Bearish Engulfing’ candle pattern is detected. The chart forms ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.

159.636 – 159.198 – 159.528 – 159.1 – 158.549 – 157.591 —
159.59600 – 159.75000 —
50.18598460575 – 59.200788271123 —
– —
159.636 – 1776812400

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