USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) goes from the ascending trendline downwards
A bearish trend downwards to the next support line at 151.79600 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 152.85300 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Engulfing’ chart pattern is discovered. The chart forms ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.48600 |
| 2nd High | 154.21600 |
| Next High | 152.85300 |
| Current Price | 152.76500 |
| Next Low | 151.79600 |
| 2nd Low | 151.00000 |
| 3rd Low | 150.89300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing