USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support at 149.76500 is expected.
Caution: A possible change in the direction of the resistance level at 150.69400 could occur.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ candlestick pattern is detected. The chart shows ‘Bearish Engulfing’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.22600 |
| 2nd High | 150.77000 |
| Next High | 150.69400 |
| Current Price | 149.65800 |
| Next Low | 149.76500 |
| 2nd Low | 149.65000 |
| 3rd Low | 148.64200 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing