USD/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Current target is 158.081 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance level at 157.98500 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Two-Candle Shooting Star’ chart pattern is found. The candles show ‘Two-Candle Shooting Star’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two-Candle Shooting Star’ heading down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 158.08100 |
| Next High | 157.98500 |
| Current Price | 157.85300 |
| Next Low | 157.63000 |
| 2nd Low | 157.35000 |
| 3rd Low | 157.05500 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Two-Candle Shooting Star