USD/JPY – 30M – SELL

The currency pair US Dollar/Japanese Yen (USD/JPY) goes from the bearish trendline down.

A continuation of the downtrend downwards to the next support at 155.718 is expected.

Caution: A possible reversal of the trend in the direction of resistance at 156.40100 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish chart signal. The currency pair could go down.

In addition a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 155.93562 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of support at 156.40100 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ candlestick pattern is discovered. The chart shows ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

156.40100 – 156.734 – 156.371 – 155.718 – 156.285 – 155.651 —
156.40100 – 156.38400 —
59.368558789321 – 58.05243650633 —
156.40100 – 1764241200 —
– 1764241200

Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down – – – – – – – – –