USD/JPY – 30M – BUYCorrection of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 153.56817 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of support at 154.34100 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Outside Down’ candlestick pattern is detected. The chart shows ‘Three Outside Down’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.48600 |
| 2nd High | 154.47600 |
| Next High | 154.34100 |
| Current Price | 153.84300 |
| Next Low | 153.79500 |
| 2nd Low | 153.43900 |
| 3rd Low | 153.32100 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down