USD/JPY – 4H – SELL

The combination US Dollar/Japanese Yen (USD/JPY) moves from the bearish trendline downwards

A continuation of the downtrend down to the next support level at 142.79100 will continue.

Caution: A possible counter-trend in the direction of resistance at 148.02500 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. which is often a bearish signal. The currency pair could go down.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 142.528 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of support at 148.02500 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Matching Low’ candle pattern is discovered. The candles form ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).

148.02500 – 145.46400 – 144.39000 – 143.74900 – 144.32200 – 142.79100

Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low –