USD/JPY – 30M – SELLCorrection of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 155.54 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 156.74500 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Black Crows’ candlestick chart pattern is detected. The chart shows ‘Three Black Crows’. which is a bearish chart scenario. The pair is likely to go down. 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 | |
| 2nd High | |
| Next High | 156.74500 |
| Current Price | 155.85100 |
| Next Low | 155.51600 |
| 2nd Low | 154.33500 |
| 3rd Low | 153.40300 |