USD/JPY – 1H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support at 143.97200 is expected.
Caution: A possible change in the direction of resistance at 145.28700 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Northern Doji’ chart pattern is detected. The chart forms ‘Northern Doji’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 148.27200 |
| 2nd High | 146.28400 |
| Next High | 145.28700 |
| Current Price | 144.52600 |
| Next Low | 143.97200 |
| 2nd Low | 142.52800 |
| 3rd Low | 142.37500 |
145.28700 – 144.77000 – 145.08600 – 143.97200 – 142.52800 – 143.67200
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji