USD/JPY – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 151.240516 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 151.22600 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Three White Soldiers’ candlestick pattern is discovered. The chart forms ‘Three White Soldiers’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.72000 |
| 2nd High | 151.94800 |
| Next High | 151.22600 |
| Current Price | 150.60300 |
| Next Low | 148.64200 |
| 2nd Low | 148.39700 |
| 3rd Low | 148.23700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers