USD/JPY – 30M – SELLThe combination US Dollar/Japanese Yen (USD/JPY) moves from the bullish trendline down.
A descent downwards to the next support at 157.386 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 158.087 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Matching Low’ candle pattern is existing. The candles show ‘Matching Low’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 159.452 |
| 2nd High | 159.223 |
| Next High | 158.087 |
| Current Price | 158.37100 |
| Next Low | 157.386 |
| 2nd Low | 157.375 |
| 3rd Low | 156.898 |
158.087 – 157.899 – 157.847 – 157.386 – 157.375 – 156.898 —
158.73200 – 158.80900 —
77.209202516915 – 70.043059482695 —
– —
158.087 – 1772812800
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low – – – – – – – – –