USD/JPY – 1H – SELLThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline downwards
A bearish movement downwards to the next support at 159.309 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 159.84 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Matching Low’ candle chart pattern is existing. The candles form ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.028 |
| 2nd High | 159.856 |
| Next High | 159.84 |
| Current Price | 159.66900 |
| Next Low | 159.309 |
| 2nd Low | 159.1 |
| 3rd Low | 158.549 |
159.84 – 159.636 – 159.198 – 159.309 – 159.1 – 158.549 —
159.72600 – 159.81200 —
58.187350370537 – 59.425040020243 —
– —
159.84 – 1776974400
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low – – – – – – – – –