USD/JPY – 30M – SELL

In addition a ‘Rising Wedge Chart Pattern’ chart layout is existing. The chart picture forms ‘Rising Wedge Chart Pattern’. which is a bearish pattern signal. The currency pair is likely to go down.

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

A bearish descent downwards to the next support level at 159.309 is expected.

Caution: A possible counter-trend in the direction of the resistance line at 159.84 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. this is usually a bearish chart signal. The currency pair could go down.

In addition a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. 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%.

159.84 – 159.778 – 159.683 – 159.309 – 159.291 – 159.111 —
159.79500 – 159.78700 —
59.812718949948 – 55.581246599599 —
– —
159.84 – 1776976200

Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing – Rising Wedge Chart Pattern – – – – – – – –