USD/JPY – 30M – SELLThe pair US Dollar/Japanese Yen (USD/JPY) goes from the descending trendline down.
A continuation of the downward movement downwards to the next support level at 146.304 is certain.
Caution: A possible trend reversal in the direction of resistance at 147.641 is also possible.
Consider stop-loss settings accordingly.
Additionally a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. which is often a bearish chart signal. The pair is likely to go down.
Additionally a ‘Matching Low’ candle chart pattern is existing. The candles form ‘Matching Low’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 148.574 |
| 2nd High | 147.877 |
| Next High | 147.641 |
| Current Price | 147.16700 |
| Next Low | 146.304 |
| 2nd Low | 146.211 |
| 3rd Low | 144.43 |
147.641 – 147.583 – 147.57 – 147.244 – 146.304 – 148.078 — 28.01157517736 – 27.696620424751 — 2.2414351046227 – 3.0962455504063 – 1.1450389447569 – 2.1771207948923
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low – – –