USD/JPY – 4H – SELLThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the descending trendline downwards
A continuation of the downtrend down to the next support level at 142.06300 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 148.27600 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish Engulfing’ candle pattern is detected. 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 probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.20700 |
| 2nd High | 150.48500 |
| Next High | 148.27600 |
| Current Price | 142.30600 |
| Next Low | 142.06300 |
| 2nd Low | |
| 3rd Low |
148.27600 – 148.14700 – 150.48500 – 142.06300 – 144.54900 – 148.69800
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing