USD/JPY – 4H – SELL

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

A continuation of the downtrend downwards to the next support at 157.591 is likely expected.

Caution: A possible change in the direction of the resistance zone at 159.856 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 158.9815 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support line at 159.856 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Collapsing Doji Star’ candle chart pattern is found. The candles show ‘Collapsing Doji Star’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Collapsing Doji Star’ going down is 63% (Bull Market).

159.528 – 159.856 – 160.028 – 157.591 – 157.884 – 158.271 —
159.57100 – 159.80800 —
59.558938508046 – 62.271153096344 —
– —
159.528 – 1776412800

Trading Signals: FOREX – USD – USD/JPY – JPY – Collapsing Doji Star – Rising Wedge Chart Pattern – – – – – – – –