USD/JPY – 1H – BUYCorrection of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 154.4615 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 157.92300 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Matching Low’ candle chart pattern is existing. The chart shows ‘Matching Low’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 157.92300 |
| Current Price | 156.07100 |
| Next Low | 153.15600 |
| 2nd Low | 151.79600 |
| 3rd Low | 151.00000 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low