USD/JPY – 1H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 142.67800 is expected.
Caution: A possible change in the direction of the resistance zone at 144.50800 could happen.
Consider stop-loss settings accordingly.
Besides a ‘Support Level’ indicator layout is discovered. The indicator is ‘Support Level’. which is often a bearish signal. The pair is likely to go down.
Besides a ‘Last Engulfing Top’ candle pattern is discovered. The chart shows ‘Last Engulfing Top’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 145.94700 |
| 2nd High | 144.94500 |
| Next High | 144.50800 |
| Current Price | 143.92400 |
| Next Low | 142.67800 |
| 2nd Low | 142.52800 |
| 3rd Low | 142.37500 |
144.50800 – 144.94500 – 144.80500 – 142.67800 – 143.77800 – 144.17200
Trading Signals: FOREX – USD – USD/JPY – JPY – Last Engulfing Top –