USD/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 157.923 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance line at 157.92300 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bullish Engulfing’ candlestick chart pattern is existing. The chart shows ‘Bullish Engulfing’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 157.92300 |
| Current Price | 156.69000 |
| Next Low | 155.94900 |
| 2nd Low | 153.15600 |
| 3rd Low | 151.79600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Engulfing