USD/JPY – 1H – SELL

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

A continuation of the downtrend down to the next support at 161.978 is certain.

Caution: A possible trend reversal in the direction of the resistance line at 162.481 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. this is usually a bearish chart signal. The pair is likely to go down.

Then a ‘Bearish Belt Hold’ chart pattern is existing. The chart forms ‘Bearish Belt Hold’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).

162.417 – 162.481 – 161.89 – 161.978 – 161.891 – 161.603 —
162.22600 – 162.42200 —
50.761054231767 – 60.697926450163 —
– —
162.417 – 1784120400

Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Belt Hold – – – – – – – – –