USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the bullish trendline downwards
A bearish descent down to the next support level at 151.00000 is certain.
Caution: A possible counter-trend in the direction of resistance at 152.85300 should always be considered.
Consider stop-loss settings accordingly.
Additionally a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.48600 |
| 2nd High | 154.21600 |
| Next High | 152.85300 |
| Current Price | 152.56500 |
| Next Low | 151.00000 |
| 2nd Low | 150.89300 |
| 3rd Low | 149.68900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing