USD/JPY – 1H – SELL

The currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the descending trendline downwards

A continuation of the downtrend downwards to the next support at 154.506 is certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 155.539 could happen.
Consider stop-loss settings accordingly.

Then a ‘MACD crosses below signal’ indicator signal is existing. The indicator is ‘MACD crosses below signal’. which is often a bearish chart signal. The currency pair could go down.

Then a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which is often a bearish signal. The currency pair could go down.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Current target is 154.506 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of support at 155.539 could happen.
Consider stop-loss settings accordingly.

Then a ‘Three Outside Down’ candlestick chart pattern is discovered. The chart forms ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

155.539 – 156.176 – 156.577 – 154.506 – 155.01 – 154.665 —
155.12900 – 155.15400 —
51.843374789337 – 52.800854730296 —
– —
155.53900 – 1764824400

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