USD/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Target of the current trend is 158.081 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance zone at 158.08100 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Shooting Star’ chart pattern is found. The candles form ‘Shooting Star’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.08100 |
| Current Price | 157.87800 |
| Next Low | 157.35000 |
| 2nd Low | 157.05500 |
| 3rd Low | 156.88600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Shooting Star