USD/JPY – 1H – SELL

The pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline down.

A bearish trend downwards to the next support line at 160.049 will continue.

Caution: A possible change in the direction of the resistance zone at 160.567 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend will continue. Current target is 160.35835 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support level at 160.567 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘Last Engulfing Top’ candlestick chart pattern is discovered. The chart forms ‘Last Engulfing Top’. 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 likelyhood of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).

160.567 – 160.442 – 160.274 – 160.049 – 159.843 – 159.728 —
160.56100 – 160.54600 —
61.992445312208 – 60.161106966592 —
– —
160.567 – 1781132400

Trading Signals: FOREX – USD – USD/JPY – JPY – Last Engulfing Top – – – – – – – – –