USD/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will persist. Current target is 156.239 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance line at is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bullish Engulfing’ candlestick pattern is detected. The chart shows ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 156.30800 |
| Next Low | 155.51600 |
| 2nd Low | 154.33500 |
| 3rd Low | 153.40300 |