USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline downwards
A descending movement downwards to the next support level at 146.984 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 147.877 is within the realm of possibility.
Consider stop-loss settings accordingly.
And also a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which could be a negative signal. The currency pair is likely to fall.
Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend will persist. Current target is 147.505772 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of support at 147.877 is within the realm of possibility.
Consider stop-loss settings accordingly.
And also a ‘Three Inside Down’ candle pattern is discovered. The candles show ‘Three Inside Down’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Inside Down’ going down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 148.776 |
| 2nd High | 148.574 |
| Next High | 147.877 |
| Current Price | 147.78900 |
| Next Low | 146.984 |
| 2nd Low | 146.304 |
| 3rd Low | 146.211 |
147.641 – 147.583 – 147.57 – 146.984 – 147.244 – 146.304 — 62.485153015565 – 58.850328909143 — 62.231517979245 – 54.952672083233 – 57.083992527641 – 58.51321516996
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Inside Down – – –