USD/JPY – 1H – SELLThe combination US Dollar/Japanese Yen (USD/JPY) jumps from the bullish trendline down.
A bearish trend down to the next support at 151.79600 will persist.
Caution: A possible change in the direction of the resistance line at 152.77200 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Engulfing’ chart pattern is detected. The chart forms ‘Bearish Engulfing’. 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 chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.72000 |
| 2nd High | 152.85300 |
| Next High | 152.77200 |
| Current Price | 152.88500 |
| Next Low | 151.79600 |
| 2nd Low | 151.00000 |
| 3rd Low | 150.89300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing