USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline downwards
A descending movement downwards to the next support at 150.89300 is considered certain.
Caution: A possible change in the direction of resistance at 152.18000 could be enabled.
Consider stop-loss settings accordingly.
Then a ‘Three Outside Down’ candlestick pattern is existing. The candles form ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.48600 |
| 2nd High | 154.21600 |
| Next High | 152.18000 |
| Current Price | 151.82700 |
| Next Low | 150.89300 |
| 2nd Low | 149.68900 |
| 3rd Low | 149.35800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down