USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) goes from the ascending trendline downwards
A descending movement down to the next support level at 157.05500 is considered certain.
Caution: A possible change in the direction of the resistance zone at 157.37900 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 157.049924 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of support at 157.37900 should always be considered.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ candlestick pattern is existing. The chart shows ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 157.92300 |
| 2nd High | 157.39000 |
| Next High | 157.37900 |
| Current Price | 157.36400 |
| Next Low | 157.05500 |
| 2nd Low | 156.88600 |
| 3rd Low | 156.46100 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows