USD/JPY – 30M – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the descending trendline down.
A continuation of the bearish trend down to the next support level at 143.41700 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 144.13900 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Shooting Star’ candlestick chart pattern is detected. The chart forms ‘Shooting Star’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 146.28400 |
| 2nd High | 145.46400 |
| Next High | 144.13900 |
| Current Price | 143.63700 |
| Next Low | 143.41700 |
| 2nd Low | 142.77300 |
| 3rd Low | 142.52800 |
144.13900 – 145.46400 – 145.24300 – 144.32200 – 144.65000 – 144.44000
Trading Signals: FOREX – USD – USD/JPY – JPY – Shooting Star