USD/JPY – 1H – SELL

The combination US Dollar/Japanese Yen (USD/JPY) jumps from the bearish trendline downwards

A continuation of the bearish trend downwards to the next support level at is expected.

Caution: A possible change in the direction of the resistance level at 144.50800 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart signal. The pair is likely to go down.

Moreover a ‘Shooting Star’ candle pattern is discovered. The chart shows ‘Shooting Star’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).

144.50800 – 144.94500 – 144.80500 – 142.67800 – 143.77800 – 144.17200

Trading Signals: FOREX – USD – USD/JPY – JPY – Shooting Star –