USD/JPY – 30M – SELLThe pair US Dollar/Japanese Yen (USD/JPY) moves from the bearish trendline down.
A continuation of the downtrend downwards to the next support at 151.40100 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 151.94800 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish Engulfing’ chart pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.48600 |
| 2nd High | 154.21600 |
| Next High | 151.94800 |
| Current Price | 150.06500 |
| Next Low | 151.40100 |
| 2nd Low | 150.45300 |
| 3rd Low | 149.08300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing