USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the bullish trendline down.
The bearish trend downwards to the next support at 158.174 is expected.
Caution: A possible change in the direction of resistance at 158.876 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Outside Down’ candle chart pattern is detected. The candles form ‘Three Outside Down’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 159.452 |
| Next High | 158.876 |
| Current Price | 158.74400 |
| Next Low | 158.174 |
| 2nd Low | 157.745 |
| 3rd Low | 157.466 |
158.53 – 158.254 – 158.297 – 158.174 – 157.745 – 157.855 —
158.58600 – 158.89000 —
64.562727530189 – 73.060193449732 —
– —
158.53000 – 1769031000
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down – – – – – – – – –