The pair US Dollar/Japanese Yen (USD/JPY) jumps from the descending trendline downwards
A continuation of the downtrend down to the next support line at 162.12700 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 162.471 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 162.2165 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support line at 162.471 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.704 |
| 2nd High | 162.542 |
| Next High | 162.471 |
| Current Price | 162.33100 |
| Next Low | 162.12700 |
| 2nd Low | 161.978 |
| 3rd Low | 161.891 |
162.471 – 162.542 – 162.278 – 162.12700 – 162.309 – 161.978 —
162.39500 – 162.41600 —
36.093978628791 – 53.957854498421 —
162.12700 – 1784280600 —
162.471 – 1784262600
Trading Signals: FOREX – USD – USD/JPY – JPY – – – – – – – – – –