USD/JPY – 1H – BUYCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Current target is 160.984 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 161.924 could be enabled.
Consider stop-loss settings accordingly.
Furthermore a ‘Matching Low’ candle chart pattern is found. The chart shows ‘Matching Low’. 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 success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 161.924 |
| Current Price | 161.43300 |
| Next Low | 161.127 |
| 2nd Low | 160.473 |
| 3rd Low | 160.113 |
161.924 – 161.807 – 160.793 – 161.127 – 160.473 – 160.113 —
161.58500 – 161.73600 —
51.735771358592 – 55.315216460352 —
– —
161.924 – 1782147600
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low – – – – – – – – –