USD/JPY – 4H – SELL

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

A continuation of the bearish trend down to the next support level at 152.265 is certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 157.656 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ candlestick chart pattern is found. The candles form ‘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 likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

157.656 – 157.334 – 159.223 – 152.265 – 152.093 – 157.422 —
153.46100 – 155.31900 —
49.348681020889 – 71.061657827072 —
– —
157.656 – 1770595200

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