USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the bullish trendline down.
A bearish trend down to the next support level at 157.35000 will persist.
Caution: A possible change in the direction of the resistance line at 157.91300 could be enabled.
Consider stop-loss settings accordingly.
Also there is a ‘Matching Low’ candle pattern is detected. The chart forms ‘Matching Low’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 158.08100 |
| Next High | 157.91300 |
| Current Price | 157.79400 |
| Next Low | 157.35000 |
| 2nd Low | 157.05500 |
| 3rd Low | 156.88600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low