USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline downwards
A bearish descent downwards to the next support at 157.37200 will persist.
Caution: A possible change in the direction of the resistance level at 158.42200 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Tweezers Top’ candlestick chart pattern is existing. The candles form ‘Tweezers Top’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.42200 |
| Current Price | 157.96500 |
| Next Low | 157.37200 |
| 2nd Low | 156.23700 |
| 3rd Low | 156.01700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Tweezers Top