USD/JPY – 30M – SELLThe pair US Dollar/Japanese Yen (USD/JPY) moves from the descending trendline downwards
A continuation of the downward movement down to the next support line at 149.76500 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 150.27100 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Engulfing’ candle pattern is existing. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 150.77000 |
| 2nd High | 150.69400 |
| Next High | 150.27100 |
| Current Price | 150.57200 |
| Next Low | 149.76500 |
| 2nd Low | 149.65000 |
| 3rd Low | 148.64200 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing