USD/JPY – 1H – BUYCorrection of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 157.393 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 158.54900 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Matching Low’ candlestick pattern is discovered. The chart shows ‘Matching Low’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.54900 |
| Current Price | 157.97800 |
| Next Low | 157.57400 |
| 2nd Low | 157.37200 |
| 3rd Low | 156.23700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low