USD/JPY – 30M – SELLAnd also a ‘Inverse Head and Shoulder chart pattern’ chart layout is existing. The chart picture shows ‘Inverse Head and Shoulder chart pattern’. this is a bullish signal. The currency pair is likely to rise.
The pair US Dollar/Japanese Yen (USD/JPY) jumps from the descending trendline downwards
A continuation of the downward movement downwards to the next support at 144.39900 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 145.28700 could happen.
Consider stop-loss settings accordingly.
And also a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. this is usually a bearish signal. The pair is likely to go down.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 144.03 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 145.28700 could happen.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 147.11900 |
| 2nd High | 146.28400 |
| Next High | 145.28700 |
| Current Price | 144.63100 |
| Next Low | 144.39900 |
| 2nd Low | 143.97200 |
| 3rd Low | 143.41700 |
145.28700 – 144.77000 – 144.94500 – 144.39900 – 143.97200 – 143.41700