USD/JPY – 30M – SELL

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

A bearish descent downwards to the next support line at 157.375 is likely expected.

Caution: A possible counter-trend in the direction of resistance at 157.965 could happen.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘MACD crosses below signal’ indicator signal is discovered. The indicator is ‘MACD crosses below signal’. which is often a bearish signal. The pair is likely to go down.

In addition a ‘Last Engulfing Top’ candlestick chart pattern is found. The chart forms ‘Last Engulfing Top’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).

157.899 – 157.847 – 157.41 – 157.375 – 156.898 – 156.449 —
157.89500 – 157.89200 —
58.48037616876 – 56.778608170728 —
– —
157.899 – 1772784000

Trading Signals: FOREX – USD – USD/JPY – JPY – Last Engulfing Top – – – – – – – – –