USD/JPY – 30M – SELLThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline downwards
A bearish trend down to the next support at 151.00000 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 152.85300 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three Outside Down’ candle pattern is existing. The candles form ‘Three Outside Down’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.48600 |
| 2nd High | 154.21600 |
| Next High | 152.85300 |
| Current Price | 152.46500 |
| Next Low | 151.00000 |
| 2nd Low | 150.89300 |
| 3rd Low | 149.68900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down