USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) goes from the descending trendline down.
A continuation of the downtrend down to the next support level at 152.265 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 153.755 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Matching Low’ candle chart pattern is detected. The candles form ‘Matching Low’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 155.631 |
| 2nd High | 154.651 |
| Next High | 153.755 |
| Current Price | 152.89700 |
| Next Low | 152.265 |
| 2nd Low | 152.093 |
| 3rd Low | 151.862 |
153.755 – 153.546 – 153.444 – 152.265 – 152.55 – 152.796 —
153.06000 – 152.96200 —
37.623356138333 – 48.044269430823 —
– —
153.755 – 1770906600
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low – – – – – – – – –