USD/JPY – 1H – SELLThe pair jumps from the bearish trendline down.
A continuation of the downward movement down to the next support level at 151.45400 is likely expected.
Caution: A possible change in the direction of the resistance zone at 153.86400 could be enabled.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 151.972308 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support zone at 153.86400 could be enabled.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 153.87600 |
| Next High | 153.86400 |
| Current Price | 152.35300 |
| Next Low | 151.45400 |
| 2nd Low | 150.60100 |
| 3rd Low | 149.08300 |