USD/JPY – 1H – SELLThere is also a ‘Double bottom retreat down’ chart pattern is discovered. The chart shows ‘Double bottom retreat down’. which is a negative signal. The currency pair is likely to go down.
There is also a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which is often a bearish signal. The currency pair is likely to fall.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 148.255328 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of support at 148.775 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Two Crows’ candle pattern is detected. The chart forms ‘Two Crows’. 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 ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.207 |
| 2nd High | 150.485 |
| Next High | 148.775 |
| Current Price | 148.08000 |
| Next Low | 146.659 |
| 2nd Low | 146.573 |
| 3rd Low | 146.211 |
148.181 – 147.906 – 147.937 – 146.659 – 147.098 – 146.985 — 65.112539669437 – 55.147650814343 — 62.273914642179 – 35.626952735288 – 74.429155958003 – 59.91091589725
Trading Signals: FOREX – USD – USD/JPY – JPY – Two Crows – Double bottom retreat down – –