USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) moves from the bearish trendline down.
A continuation of the downtrend down to the next support level at 153.27500 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 155.88500 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Current target is 153.83354 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support level at 155.88500 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Black Crows’ candlestick chart pattern is found. The chart forms ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 156.74500 |
| Next High | 155.88500 |
| Current Price | 154.21200 |
| Next Low | 153.27500 |
| 2nd Low | 152.13800 |
| 3rd Low | 151.28200 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows