USD/JPY – 1H – SELLAlso there is a ‘Double bottom retreat down’ chart formation is existing. The chart picture shows ‘Double bottom retreat down’. this is a bearish pattern signal. The currency pair is likely to go down.
The currency pair US Dollar/Japanese Yen (USD/JPY) goes from the ascending trendline down.
A bearish trend down to the next support line at 154.813 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 155.88 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Northern Doji’ candle pattern is detected. The candles show ‘Northern Doji’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 156.245 |
| 2nd High | 155.975 |
| Next High | 155.88 |
| Current Price | 155.35000 |
| Next Low | 154.813 |
| 2nd Low | 153.615 |
| 3rd Low | 153.005 |
155.373 – 154.761 – 154.742 – 154.813 – 153.615 – 153.663 —
155.69300 – 155.57500 —
69.674100228794 – 57.692964206364 —
– —
155.37300 – 1763431200
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – Double bottom retreat down – – – –