USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) jumps from the bullish trendline down.
The bearish trend down to the next support level at 149.65000 will persist.
Caution: A possible change in the direction of the resistance level at 150.69400 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Bearish Engulfing’ candlestick pattern is existing. The candles show ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.22600 |
| 2nd High | 150.77000 |
| Next High | 150.69400 |
| Current Price | 150.04000 |
| Next Low | 149.65000 |
| 2nd Low | 148.64200 |
| 3rd Low | 148.39700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing