USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline down.
The bearish trend down to the next support at 157.92400 will continue.
Caution: A possible change in the direction of the resistance level at 158.42200 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish Harami’ candle pattern is found. The candles form ‘Bearish Harami’. 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 success rate of a ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.42200 |
| Current Price | 158.37100 |
| Next Low | 157.92400 |
| 2nd Low | 157.37200 |
| 3rd Low | 156.23700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Harami