USD/JPY – 30M – SELLThe pair US Dollar/Japanese Yen (USD/JPY) goes from the ascending trendline down.
The bearish trend down to the next support at 151.00000 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 154.21600 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Outside Down’ chart pattern is found. The candles form ‘Three Outside Down’. 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 chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.72000 |
| 2nd High | 154.48600 |
| Next High | 154.21600 |
| Current Price | 152.29200 |
| Next Low | 151.00000 |
| 2nd Low | 150.89300 |
| 3rd Low | 149.68900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down