USD/JPY – 30M – SELLThe currency pair moves from the bullish trendline downwards
A bearish trend down to the next support level at 154.50400 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 155.23600 could occur.
Consider stop-loss settings accordingly.
Next a ‘Bearish Engulfing’ candlestick pattern is detected. The chart shows ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 155.23600 |
| Current Price | 154.50700 |
| Next Low | 154.50400 |
| 2nd Low | 153.40300 |
| 3rd Low | 152.13800 |