USD/JPY – 1H – SELL

The combination US Dollar/Japanese Yen (USD/JPY) goes from the ascending trendline down.

The bearish trend downwards to the next support level at 155.718 is expected.

Caution: A possible change in the direction of the resistance zone at 156.734 should be noted.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 155.845008 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 156.734 should be noted.
Consider stop-loss settings accordingly.

Then a ‘Northern Doji’ chart pattern is existing. The chart forms ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

156.734 – 157.186 – 157.891 – 155.718 – 155.651 – 156.197 —
156.35400 – 156.31000 —
50.268290079827 – 50.019374629131 —
– —
156.73400 – 1764172800

Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – Rising Wedge Chart Pattern – – – – – – – –