The pair US Dollar/Japanese Yen (USD/JPY) moves from the bullish trendline downwards
A descent down to the next support level at 162.127 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 162.471 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The pair is likely to go down.
Furthermore a ‘Last Engulfing Top’ candle pattern is discovered. The candles form ‘Last Engulfing Top’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.704 |
| 2nd High | 162.542 |
| Next High | 162.471 |
| Current Price | 162.43100 |
| Next Low | 162.127 |
| 2nd Low | 161.978 |
| 3rd Low | 161.891 |
162.451 – 162.471 – 162.542 – 162.127 – 162.309 – 161.978 —
162.36700 – 162.44000 —
46.376375407348 – 54.873456408271 —
– —
162.451 – 1784291400
Trading Signals: FOREX – USD – USD/JPY – JPY – Last Engulfing Top – – – – – – – – –