USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline down.
A bearish descent down to the next support level at 149.68900 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 151.54400 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Meeting Lines’ candlestick chart pattern is existing. The chart shows ‘Bearish Meeting Lines’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Meeting Lines’ heading down is 51% (Bull Market) & 53% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.21600 |
| 2nd High | 151.94800 |
| Next High | 151.54400 |
| Current Price | 151.49300 |
| Next Low | 149.68900 |
| 2nd Low | 149.35800 |
| 3rd Low | 148.64200 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Meeting Lines