USD/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 156.318 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support line at 157.334 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Engulfing’ candle pattern is found. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 159.452 |
| 2nd High | 159.223 |
| Next High | 157.334 |
| Current Price | 156.75500 |
| Next Low | 156.679 |
| 2nd Low | 156.346 |
| 3rd Low | 155.523 |
157.334 – 156.982 – 156.851 – 156.679 – 156.346 – 155.523 —
157.25200 – 156.81800 —
64.115029463191 – 44.66742336727 —
– —
157.334 – 1770291000
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing – – – – – – – – –