USD/JPY – 30M – SELLThere is also a ‘Inverse Head and Shoulder chart pattern’ chart formation is detected. The chart picture shows ‘Inverse Head and Shoulder chart pattern’. this is a bullish chart scenario. The pair is likely to go up.
The combination US Dollar/Japanese Yen (USD/JPY) jumps from the descending trendline downwards
A continuation of the downtrend down to the next support at 144.39900 will persist.
Caution: A possible trend reversal in the direction of resistance at 145.28700 could occur.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The currency pair could go down.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Target of the current trend is 144.03 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support line at 145.28700 could occur.
Please make appropriate stop-loss settings in the case of a trade.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 147.11900 |
| 2nd High | 146.28400 |
| Next High | 145.28700 |
| Current Price | 144.63100 |
| Next Low | 144.39900 |
| 2nd Low | 143.97200 |
| 3rd Low | 143.41700 |
145.28700 – 144.77000 – 144.94500 – 144.39900 – 143.97200 – 143.41700