USD/JPY – 4H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Current target is 152.6935 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance zone at 155.88500 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three White Soldiers’ chart pattern is detected. The chart forms ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 156.74500 |
| Next High | 155.88500 |
| Current Price | 151.23600 |
| Next Low | 148.64200 |
| 2nd Low | 147.34100 |
| 3rd Low | 141.64200 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers