USD/JPY – 30M – SELL

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

The bearish trend downwards to the next support level at 157.386 is expected.

Caution: A possible change in the direction of the resistance zone at 158.899 is within the realm of possibility.
Consider stop-loss settings accordingly.

Moreover a ‘StochRSI %K falls below 0.8’ indicator layout is found. The indicator shows ‘StochRSI %K falls below 0.8’. this is usually a bearish signal. The pair is likely to go down.

Moreover a ‘Bearish Engulfing’ candlestick pattern is found. The candles form ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

158.899 – 158.087 – 157.899 – 157.386 – 157.375 – 156.898 —
158.49100 – 158.64600 —
50.383253064734 – 49.630736911081 —
– —
158.899 – 1773037800

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