USD/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will continue. Target of the current trend is 154.476 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance line at 155.88500 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Three Outside Up’ candle pattern is discovered. The candles show ‘Three Outside Up’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 156.74500 |
| Next High | 155.88500 |
| Current Price | 155.24700 |
| Next Low | 153.15600 |
| 2nd Low | 151.79600 |
| 3rd Low | 151.00000 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up