USD/JPY – 1H – SELLThe pair US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline downwards
A bearish trend downwards to the next support level at 151.79600 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 152.77200 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Outside Down’ candle pattern is discovered. The candles form ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.72000 |
| 2nd High | 152.85300 |
| Next High | 152.77200 |
| Current Price | 153.29800 |
| Next Low | 151.79600 |
| 2nd Low | 151.00000 |
| 3rd Low | 150.89300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down