USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the bearish trendline down.
A continuation of the downtrend downwards to the next support level at 143.41700 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 145.46400 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Matching Low’ candle chart pattern is found. The chart forms ‘Matching Low’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 147.11900 |
| 2nd High | 146.28400 |
| Next High | 145.46400 |
| Current Price | 143.73100 |
| Next Low | 143.41700 |
| 2nd Low | 142.77300 |
| 3rd Low | 142.52800 |
145.46400 – 145.24300 – 145.15800 – 144.32200 – 144.65000 – 144.44000
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low