USD/JPY – 30M – SELLThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline downwards
The bearish trend down to the next support at 150.89300 is expected.
Caution: A possible change in the direction of the resistance line at 152.18000 could occur.
Consider stop-loss settings accordingly.
Next a ‘Bearish Engulfing’ candle pattern is found. The candles form ‘Bearish Engulfing’. this is a bearish 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’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.48600 |
| 2nd High | 154.21600 |
| Next High | 152.18000 |
| Current Price | 151.47900 |
| Next Low | 150.89300 |
| 2nd Low | 149.68900 |
| 3rd Low | 149.35800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing