USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the bullish trendline down.
The bearish trend down to the next support line at 157.92400 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 158.54900 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Two Crows’ chart pattern is detected. The chart forms ‘Two Crows’. 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 ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.54900 |
| Current Price | 158.36700 |
| Next Low | 157.92400 |
| 2nd Low | 157.37200 |
| 3rd Low | 156.23700 |