USD/JPY – 1H – SELL

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

A bearish descent down to the next support level at 158.566 is expected.

Caution: A possible change in the direction of resistance at 159.68000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart shows ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.

159.68000 – 159.234 – 158.899 – 158.566 – 157.86 – 157.271 —
159.68000 – 159.44700 —
66.800568391789 – 52.39999702867 —
159.68000 – 1773385200 —
– 1773385200

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