USD/JPY – 30M – SELLThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline downwards
A bearish descent down to the next support at 156.46100 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 157.92300 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart forms ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 157.92300 |
| Current Price | 157.12900 |
| Next Low | 156.46100 |
| 2nd Low | 155.94900 |
| 3rd Low | 153.33100 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing