USD/JPY – 30M – SELL

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

A continuation of the downward movement down to the next support level at 159.731 will continue.

Caution: A possible change in the direction of the resistance level at 160.337 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Bearish Engulfing’ candle chart pattern is detected. The chart forms ‘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 chance of ‘Bearish Engulfing’ going down is 79%.

160.337 – 160.372 – 160.593 – 159.731 – 159.95 – 159.538 —
159.95800 – 160.08800 —
37.780411318868 – 46.062615946236 —
– —
160.337 – 1781281800

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