USD/JPY – 1H – SELL

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 160.629 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support line at 162.838 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

And also a ‘Three Outside Down’ candle pattern is detected. The candles form ‘Three Outside Down’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

162.838 – 161.857 – 161.844 – 160.629 – 162.29 – 162.031 —
161.30000 – 161.17600 —
41.684909128342 – 41.609316995531 —
– —
162.838 – 1782885600

Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down – – – – – – – – –