USD/JPY – 30M – SELL

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

A continuation of the downtrend downwards to the next support level at 157.38600 will persist.

Caution: A possible change in the direction of the resistance zone at 157.899 is also possible.
Consider stop-loss settings accordingly.

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

Then a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles show ‘Bearish Engulfing’. 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 probability of ‘Bearish Engulfing’ going down is 79%.

157.899 – 157.847 – 157.41 – 157.38600 – 157.375 – 156.898 —
157.89200 – 157.74700 —
56.778607674352 – 50.305411760959 —
157.38600 – 1772811000 —
157.899 – 1772784000

Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Engulfing – – – – – – – – –