USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the descending trendline downwards
A continuation of the bearish trend down to the next support at 153.33100 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 153.78200 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 153.46752 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support zone at 153.78200 should be noted.
Consider stop-loss settings accordingly.
Moreover a ‘Three Black Crows’ candlestick chart pattern is discovered. The candles show ‘Three Black Crows’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.47600 |
| 2nd High | 154.34100 |
| Next High | 153.78200 |
| Current Price | 153.72200 |
| Next Low | 153.33100 |
| 2nd Low | 153.15600 |
| 3rd Low | 151.79600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows