USD/JPY – 1H – SELLThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support level at 157.08400 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 158.87500 should be noted.
Consider stop-loss settings accordingly.
Then a ‘Bearish Harami’ candlestick chart pattern is found. The chart shows ‘Bearish Harami’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.87500 |
| Current Price | 157.85300 |
| Next Low | 157.08400 |
| 2nd Low | 156.90800 |
| 3rd Low | 156.23700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Harami