The currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the descending trendline downwards
A continuation of the downtrend downwards to the next support line at 161.978 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 162.542 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The currency pair is likely to fall.
Besides a ‘Three Line Strike – Bearish’ chart pattern is detected. The candles form ‘Three Line Strike – Bearish’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.838 |
| 2nd High | 162.704 |
| Next High | 162.542 |
| Current Price | 162.35400 |
| Next Low | 161.978 |
| 2nd Low | 161.891 |
| 3rd Low | 161.603 |
162.542 – 162.417 – 162.481 – 161.978 – 161.891 – 161.603 —
162.43000 – 162.37100 —
58.515175334176 – 52.626524921156 —
– —
162.542 – 1784228400
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Line Strike – Bearish – – – – – – – – –