USD/JPY – 1H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the ascending trendline downwards
The bearish trend down to the next support at 157.57400 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 158.54900 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Tweezers Top’ candle chart pattern is found. The candles form ‘Tweezers Top’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.54900 |
| Current Price | 158.22900 |
| Next Low | 157.57400 |
| 2nd Low | 157.37200 |
| 3rd Low | 156.23700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Tweezers Top