USD/JPY – 1H – SELL

Besides a ‘Rising Wedge Chart Pattern’ chart pattern is detected. The chart picture forms ‘Rising Wedge Chart Pattern’. which is a negative chart scenario. The pair is likely to go down.

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

A bearish descent downwards to the next support line at 157.147 is likely expected.

Caution: A possible trend reversal in the direction of the resistance level at 157.965 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three Outside Down’ candle pattern is detected. The candles form ‘Three Outside Down’. which is a bearish 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).

157.965 – 157.75 – 156.231 – 157.147 – 155.534 – 155.698 —
157.81800 – 157.61200 —
55.132089875787 – 51.636945608522 —
– —
157.965 – 1772542800

Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down – Rising Wedge Chart Pattern – – – – – – – –