USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline downwards
A descent down to the next support at 156.361 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 156.798 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘%K crosses below %D’ indicator layout is discovered. The indicator is ‘%K crosses below %D’. this is usually a bearish chart signal. The currency pair could go down.
In addition a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The pair is likely to go down.
Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend will persist. Current target is 156.655126 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support level at 156.798 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Northern Doji’ candle pattern is detected. The chart forms ‘Northern Doji’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 157.295 |
| 2nd High | 156.803 |
| Next High | 156.798 |
| Current Price | 156.75000 |
| Next Low | 156.361 |
| 2nd Low | 156.293 |
| 3rd Low | 156.16 |
156.798 – 156.803 – 156.746 – 156.361 – 156.293 – 156.16 —
156.73100 – 156.78600 —
53.768925225073 – 62.782475800324 —
– —
156.79800 – 1767808800
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – – – – – – – –