USD/JPY – 30M – SELLThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the bearish trendline down.
A continuation of the downward movement down to the next support at 142.22600 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 143.27900 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ chart pattern is existing. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 143.59300 |
| 2nd High | 143.50800 |
| Next High | 143.27900 |
| Current Price | 142.11400 |
| Next Low | 142.22600 |
| 2nd Low | 142.06300 |
| 3rd Low |
143.27900 – 143.26400 – 143.50800 – 142.59500 – 142.77900 – 142.22600
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing