USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) jumps from the bearish trendline downwards
A continuation of the downward movement down to the next support line at 153.33100 is likely expected.
Caution: A possible trend reversal in the direction of resistance at should be noted.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The currency 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 | |
| 2nd High | |
| Next High | |
| Current Price | 157.54100 |
| Next Low | 153.33100 |
| 2nd Low | 153.15600 |
| 3rd Low | 151.79600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing