USD/JPY – 1H – SELLThe pair US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline down.
A descending movement down to the next support level at 158.566 is expected.
Caution: A possible change in the direction of the resistance level at 159.452 could occur.
Consider stop-loss settings accordingly.
In addition a ‘Southern Doji’ candlestick pattern is discovered. The chart shows ‘Southern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 159.452 |
| Current Price | 159.30200 |
| Next Low | 158.566 |
| 2nd Low | 157.86 |
| 3rd Low | 157.271 |
159.234 – 158.899 – 157.847 – 158.566 – 157.86 – 157.271 —
158.93000 – 159.42800 —
54.902033975392 – 67.30158971053 —
– —
159.234 – 1773284400
Trading Signals: FOREX – USD – USD/JPY – JPY – Southern Doji – – – – – – – – –