USD/JPY – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 149.422216 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 151.22600 is also possible.
Consider stop-loss settings accordingly.
There is also a ‘Three Black Crows’ candle chart pattern is detected. The candles form ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.72000 |
| 2nd High | 151.94800 |
| Next High | 151.22600 |
| Current Price | 150.13200 |
| Next Low | 149.65000 |
| 2nd Low | 148.64200 |
| 3rd Low | 148.39700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows