USD/JPY – 1H – SELLCorrection of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Current target is 153.123898 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of support at 156.74500 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Black Crows’ candle chart pattern is found. The chart forms ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 156.74500 |
| Current Price | 153.92000 |
| Next Low | 153.40300 |
| 2nd Low | 152.13800 |
| 3rd Low | 151.28200 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows