USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline down.
A bearish descent downwards to the next support line at 153.43900 is certain.
Caution: A possible trend reversal in the direction of resistance at 154.47600 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candlestick pattern is found. The chart shows ‘Bearish Engulfing’. this is a bearish pattern 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 | 154.72000 |
| 2nd High | 154.48600 |
| Next High | 154.47600 |
| Current Price | 154.13800 |
| Next Low | 153.43900 |
| 2nd Low | 153.32100 |
| 3rd Low | 151.79600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing