USD/JPY – 30M – SELL

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

A continuation of the downtrend downwards to the next support at 156.564 is likely expected.

Caution: A possible trend reversal in the direction of the resistance line at 157.299 could happen.
Consider stop-loss settings accordingly.

Moreover a ‘StochRSI %K line crosses below %D line’ indicator signal is detected. The indicator shows ‘StochRSI %K line crosses below %D line’. this is usually a bearish chart signal. The pair is likely to go down.

Moreover a ‘MACD crosses below signal’ indicator signal is detected. The indicator shows ‘MACD crosses below signal’. this is usually a bearish chart signal. The pair is likely to go down.

Moreover a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is likely expected. Current target is 156.912944 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support level at 157.299 could happen.
Consider stop-loss settings accordingly.

Moreover a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.

157.299 – 157.201 – 157.245 – 156.564 – 155.495 – 156.302 —
157.25200 – 157.26500 —
54.207225392099 – 56.5469392339 —
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157.299 – 1777921200

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