Indicators and patterns
9/3/2024
Indicators and patterns
The first indicator is an Engulfing Pattern on the USD/JPY currency pair, observed on the 15-minute timeframe. This pattern is considered bearish and suggests a potential selling opportunity. The Engulfing Pattern occurs when a larger candle completely engulfs the previous smaller candle, indicating a possible reversal in the price direction. In this case, the Engulfing Pattern occurred at a price of 146.08 on September 3, 2024, at 12:00.The second indicator is an Advance Block pattern on the USD/JPY currency pair, also on the 15-minute timeframe. This pattern is bearish and signals a selling opportunity. The Advance Block pattern is a three-candle pattern where each successive candle closes higher than the previous one but with diminishing size, indicating weakening bullish momentum. In this case, the Advance Block pattern was observed at a price of 146.175 on September 3, 2024, at 11:45.
Both indicators suggest a bearish sentiment and recommend selling the USD/JPY currency pair based on the patterns observed.
This is not investment advice. Remember to verify the information provided here.
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