USD/JPY – 1H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline downwards
A descent down to the next support level at 159.303 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 159.927 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Tweezers Top’ candlestick chart pattern is discovered. The chart shows ‘Tweezers Top’. which 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 ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.459 |
| 2nd High | 159.97 |
| Next High | 159.927 |
| Current Price | 159.77700 |
| Next Low | 159.303 |
| 2nd Low | 159.23 |
| 3rd Low | 158.271 |
159.927 – 159.828 – 159.809 – 159.303 – 159.438 – 159.23 —
159.88300 – 159.79000 —
60.369984161897 – 53.856168817668 —
– —
159.927 – 1775538000
Trading Signals: FOREX – USD – USD/JPY – JPY – Tweezers Top – Rising Wedge Chart Pattern – – – – – – – –