USD/JPY – 30M – SELL

Furthermore a ‘%K crosses below %D’ indicator layout is detected. The indicator is ‘%K crosses below %D’. which is often a bearish chart signal. The pair is likely to go down.

Furthermore a ‘MACD crosses below signal’ indicator layout is detected. The indicator is ‘MACD crosses below signal’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 158.033 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support zone at 158.53 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Three Outside Down’ chart pattern is found. The candles form ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

158.53 – 158.254 – 158.297 – 157.745 – 157.855 – 157.466 —
158.49600 – 158.48500 —
68.176520067963 – 64.032324477392 —
– —
158.53000 – 1769031000

Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down – Inverse Head and Shoulder chart pattern – – – – – – – –