USD/JPY – 30M – SELLFurthermore a ‘Last Engulfing Bottom:’ candlestick chart pattern is existing. The candles show ‘Last Engulfing Bottom:’. which is a negative 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 ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
Furthermore a ‘Double top chart pattern’ chart pattern is existing. The chart shows ‘Double top chart pattern’. this is a bearish chart scenario. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 147.14000 |
| 2nd High | 145.13100 |
| Next High | 144.14100 |
| Current Price | 142.52900 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
144.14100 – 145.13100 – 147.14000 – 142.87800 – 144.00500 – 143.99300
Trading Signals: FOREX – USD – USD/JPY – JPY – Last Engulfing Bottom: