USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 153.96400 will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 154.95300 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 154.370752 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support line at 154.95300 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Black Crows’ candlestick chart pattern is detected. The chart shows ‘Three Black Crows’. which 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 ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 155.88500 |
| 2nd High | 155.26200 |
| Next High | 154.95300 |
| Current Price | 154.71400 |
| Next Low | 153.96400 |
| 2nd Low | 153.90300 |
| 3rd Low | 153.27500 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows