USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the bullish trendline down.
A bearish descent down to the next support line at 154.00500 will persist.
Caution: A possible reversal of the trend in the direction of resistance at 154.47600 should be noted.
Consider stop-loss settings accordingly.
Moreover a ‘Bearish Engulfing’ candlestick chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.72000 |
| 2nd High | 154.48600 |
| Next High | 154.47600 |
| Current Price | 154.08900 |
| Next Low | 154.00500 |
| 2nd Low | 153.43900 |
| 3rd Low | 153.32100 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing