USD/JPY – 30M – SELL

The combination US Dollar/Japanese Yen (USD/JPY) goes from the descending trendline downwards

A continuation of the downward movement down to the next support line at 155.611 will persist.

Caution: A possible counter-trend in the direction of the resistance zone at 156.52200 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Shooting Star’ candlestick pattern is found. The candles form ‘Shooting Star’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).

156.52200 – 156.508 – 157.934 – 155.611 – 155.036 – 157.541 —
156.52200 – 156.43600 —
50.999336620683 – 52.323509595554 —
156.52200 – 1778122800 —
– 1778122800

Trading Signals: FOREX – USD – USD/JPY – JPY – Shooting Star – – – – – – – – –