USD/JPY – 30M – SELLIn addition a ‘Double bottom retreat down’ chart formation is detected. The chart shows ‘Double bottom retreat down’. which is a bearish signal. The currency pair is likely to go down.
The pair US Dollar/Japanese Yen (USD/JPY) jumps from the bullish trendline down.
A bearish trend down to the next support at 147.244 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 148.574 could occur.
Consider stop-loss settings accordingly.
In addition a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which could be a negative chart scenario. The pair is likely to go down.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is expected. Current target is 147.505772 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 148.574 could occur.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 150.485 |
| 2nd High | 148.776 |
| Next High | 148.574 |
| Current Price | 147.52700 |
| Next Low | 147.244 |
| 2nd Low | 146.304 |
| 3rd Low | 146.211 |
147.641 – 147.583 – 147.57 – 147.244 – 146.304 – 148.078 — 64.678817802471 – 40.041689288687 — 56.129843334999 – 28.832391455133 – 79.783183947749 – 58.072608250616
Trading Signals: FOREX – USD – USD/JPY – JPY – – Double bottom retreat down – –