USD/JPY – 1H – BUYCorrection of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Current target is 156.00242 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the resistance level at 155.35500 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three White Soldiers’ chart pattern is existing. The candles show ‘Three White Soldiers’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 156.74500 |
| Next High | 155.35500 |
| Current Price | 155.18800 |
| Next Low | 153.27500 |
| 2nd Low | 152.13800 |
| 3rd Low | 151.28200 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers