USD/JPY – 1H – SELL

The currency pair US Dollar/Japanese Yen (USD/JPY) moves from the descending trendline downwards

A continuation of the downtrend down to the next support level at 155.534 will persist.

Caution: A possible counter-trend in the direction of the resistance zone at 156.429 is also possible.
Consider stop-loss settings accordingly.

Moreover a ‘StochRSI %K line crosses below %D line’ indicator layout is detected. The indicator is ‘StochRSI %K line crosses below %D line’. which is often a bearish chart signal. The currency pair could go down.

Moreover a ‘Three Outside Down’ candle chart pattern is existing. The candles show ‘Three Outside Down’. which 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 ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

156.429 – 156.818 – 156.275 – 155.534 – 155.698 – 155.342 —
156.12100 – 156.22300 —
53.147686687781 – 56.133395939619 —
– —
156.429 – 1772136000

Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down – – – – – – – – –