USD/JPY – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Target of the current trend is 160.769 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 161.807 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Bearish Harami’ candlestick pattern is discovered. The chart shows ‘Bearish Harami’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 161.807 |
| Current Price | 161.28200 |
| Next Low | 160.473 |
| 2nd Low | 160.113 |
| 3rd Low | 160.044 |
161.807 – 160.793 – 160.479 – 160.473 – 160.113 – 160.044 —
161.35700 – 161.39700 —
62.497664836673 – 57.280834904024 —
– —
161.807 – 1781820000
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Harami – – – – – – – – –