USD/JPY – 1H – SELLMoreover a ‘Double top chart pattern’ chart formation is existing. The formation shows ‘Double top chart pattern’. this is a bearish signal. The currency pair is likely to go down.
The combination US Dollar/Japanese Yen (USD/JPY) jumps from the bearish trendline down.
A continuation of the downtrend down to the next support at is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 146.28400 should always be considered.
Consider stop-loss settings accordingly.
Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish signal. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 148.64800 |
| 2nd High | 148.27200 |
| Next High | 146.28400 |
| Current Price | 143.94100 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
146.28400 – 144.45500 – 143.03000 – 143.43900 – 143.84700 – 142.11100
Trading Signals: FOREX – USD – USD/JPY – JPY – Collapsing Doji Star