USD/JPY – 1H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline down.
A bearish trend downwards to the next support line at 144.82100 is certain.
Caution: A possible change in the direction of the resistance zone at 148.27600 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Belt Hold’ candle chart pattern is existing. The chart shows ‘Bearish Belt Hold’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.20700 |
| 2nd High | 150.48500 |
| Next High | 148.27600 |
| Current Price | 147.87400 |
| Next Low | 144.82100 |
| 2nd Low | 142.90100 |
| 3rd Low | 142.35100 |
146.18500 – 144.27200 – 145.92000 – 144.82100 – 142.90100 – 142.35100
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Belt Hold