USD/JPY – 30M – BUY

Next a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. this is usually a bearish chart signal. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 158.5595 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support line at 159.528 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Matching Low’ candlestick pattern is detected. The candles form ‘Matching Low’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).

159.528 – 159.303 – 159.151 – 157.591 – 159.018 – 158.26 —
158.63700 – 159.19800 —
51.688159793821 – 63.536353137831 —
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159.528 – 1776412800

Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low – – – – – – – – –