USD/JPY – 30M – SELL

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

A continuation of the downward movement down to the next support at 161.603 is considered certain.

Caution: A possible counter-trend in the direction of the resistance zone at 162.382 should always be considered.
Consider stop-loss settings accordingly.

Next a ‘StochRSI %K line crosses below %D line’ indicator layout is found. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative chart scenario. The pair is likely to go down.

Next a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. which is often a bearish signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 161.8815 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 162.382 should always be considered.
Consider stop-loss settings accordingly.

Next a ‘Two Crows’ candlestick pattern is found. The chart forms ‘Two Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).

162.382 – 162.481 – 162.354 – 161.603 – 162.224 – 161.839 —
162.01200 – 162.21400 —
32.958748393797 – 53.846947628782 —
– —
162.382 – 1784026800

Trading Signals: FOREX – USD – USD/JPY – JPY – Two Crows – – – – – – – – –