USD/JPY – 4H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will persist. Target of the current trend is 157.8785 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance zone at 157.934 could occur.
Consider stop-loss settings accordingly.
In addition a ‘Three Outside Up’ candlestick pattern is detected. The chart shows ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 160.721 |
| Next High | 157.934 |
| Current Price | 156.74300 |
| Next Low | 155.036 |
| 2nd Low | 153.995 |
| 3rd Low | 152.265 |
157.934 – 160.721 – 159.84 – 155.036 – 155.495 – 158.955 —
156.56200 – 156.46800 —
30.921071966345 – 36.79430932832 —
– —
157.934 – 1778025600
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up – – – – – – – – –