USD/JPY – 4H – SELLThere is also a ‘Bearish Engulfing’ chart pattern is detected. The candles show ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. 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 | 156.74500 |
| 2nd High | 155.88500 |
| Next High | 151.22600 |
| Current Price | 151.12400 |
| Next Low | 149.35800 |
| 2nd Low | 148.64200 |
| 3rd Low | 147.34100 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing