USD/JPY – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 156.504104 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support line at 157.84800 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candlestick chart pattern is detected. The candles form ‘Three Black Crows’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.08100 |
| 2nd High | 158.06800 |
| Next High | 157.84800 |
| Current Price | 156.61100 |
| Next Low | 156.43300 |
| 2nd Low | 156.01700 |
| 3rd Low | 155.94900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows