USD/JPY – 1H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the ascending trendline downwards
A bearish movement downwards to the next support level at 157.37200 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 158.54900 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Collapsing Doji Star’ candle pattern is existing. The chart shows ‘Collapsing Doji Star’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Collapsing Doji Star’ heading down is 63% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.54900 |
| Current Price | 158.36700 |
| Next Low | 157.37200 |
| 2nd Low | 156.23700 |
| 3rd Low | 156.01700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Collapsing Doji Star