USD/JPY – 1H – BUYAnd also a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bearish chart signal. The currency pair is likely to fall.
Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is expected. Current target is 157.765012 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support line at 158.202 could occur.
Consider stop-loss settings accordingly.
And also a ‘Tweezers Top’ candle chart pattern is discovered. The candles show ‘Tweezers Top’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 158.875 |
| Next High | 158.202 |
| Current Price | 158.13500 |
| Next Low | 157.514 |
| 2nd Low | 156.452 |
| 3rd Low | 156.293 |
158.202 – 157.069 – 156.953 – 157.514 – 156.452 – 156.293 —
157.95300 – 158.14800 —
52.333240731828 – 60.684577119752 —
– —
158.20200 – 1768183200
Trading Signals: FOREX – USD – USD/JPY – JPY – Tweezers Top – – – – – – – – –