USD/JPY – 1H – BUYIn addition a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which is often a bearish chart signal. The currency pair is likely to fall.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is certain. Current target is 155.742704 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 156.577 should always be considered.
Consider stop-loss settings accordingly.
In addition a ‘Shooting Star’ chart pattern is found. The chart forms ‘Shooting Star’. 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 probability of ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 157.186 |
| 2nd High | 156.734 |
| Next High | 156.577 |
| Current Price | 156.07000 |
| Next Low | 154.899 |
| 2nd Low | 154.34 |
| 3rd Low | 153.615 |
155.491 – 155.226 – 155.539 – 154.899 – 154.34 – 154.506 —
156.03400 – 156.43000 —
57.533442173945 – 73.160273351528 —
– —
155.49100 – 1764957600
Trading Signals: FOREX – USD – USD/JPY – JPY – Shooting Star – – – – – – – – –