USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the descending trendline downwards
A continuation of the bearish trend downwards to the next support level at 149.35800 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 150.12800 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 149.674004 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 150.12800 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Black Crows’ candle pattern is detected. The chart forms ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 150.77000 |
| 2nd High | 150.69700 |
| Next High | 150.12800 |
| Current Price | 149.76700 |
| Next Low | 149.35800 |
| 2nd Low | 148.64200 |
| 3rd Low | 148.39700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows