USD/JPY – 1H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the bearish trendline down.
A continuation of the bearish trend down to the next support level at 142.22600 will continue.
Caution: A possible change in the direction of the resistance line at 143.59300 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Last Engulfing Bottom:’ candlestick chart pattern is found. The chart shows ‘Last Engulfing Bottom:’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 144.20100 |
| 2nd High | 144.07800 |
| Next High | 143.59300 |
| Current Price | 142.72400 |
| Next Low | 142.22600 |
| 2nd Low | 142.06300 |
| 3rd Low |
143.59300 – 144.07800 – 144.20100 – 142.22600 – 142.06300 – 143.99300
Trading Signals: FOREX – USD – USD/JPY – JPY – Last Engulfing Bottom: