USD/JPY – 30M – SELLThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support level at 156.88600 is considered certain.
Caution: A possible change in the direction of resistance at 157.39000 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Last Engulfing Bottom:’ chart pattern is detected. The chart shows ‘Last Engulfing Bottom:’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 157.92300 |
| Next High | 157.39000 |
| Current Price | 157.10400 |
| Next Low | 156.88600 |
| 2nd Low | 156.46100 |
| 3rd Low | 155.94900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Last Engulfing Bottom: