USD/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 153.903 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support level at 155.02100 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 155.88500 |
| 2nd High | 155.26200 |
| Next High | 155.02100 |
| Current Price | 154.13700 |
| Next Low | 153.96400 |
| 2nd Low | 153.90300 |
| 3rd Low | 153.27500 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing