USD/JPY – 30M – SELL

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

A continuation of the downward movement downwards to the next support at 160.629 is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 161.517 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘StochRSI %K line crosses below %D line’ indicator layout is existing. The indicator is ‘StochRSI %K line crosses below %D line’. this is usually a bearish chart scenario. The pair is likely to go down.

Additionally a ‘Last Engulfing Top’ candlestick pattern is found. The candles form ‘Last Engulfing Top’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).

161.517 – 162.613 – 162.76 – 160.918 – 160.629 – 162.29 —
161.16000 – 161.12700 —
40.018882674153 – 51.61751910308 —
– —
161.517 – 1783047600

Trading Signals: FOREX – USD – USD/JPY – JPY – Last Engulfing Top – – – – – – – – –