USD/JPY – 1H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the bearish trendline down.
A continuation of the downward movement down to the next support line at 153.54600 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 154.72000 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles show ‘Bearish Engulfing’. which 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 | 155.88500 |
| 2nd High | 155.02100 |
| Next High | 154.72000 |
| Current Price | 154.10800 |
| Next Low | 153.54600 |
| 2nd Low | 153.27500 |
| 3rd Low | 152.13800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing