USD/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 155.885 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of resistance at 155.88500 could occur.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bullish Engulfing’ candlestick chart pattern is detected. The candles show ‘Bullish Engulfing’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 156.74500 |
| Next High | 155.88500 |
| Current Price | 155.36600 |
| Next Low | 155.05400 |
| 2nd Low | 154.52500 |
| 3rd Low | 153.27500 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Engulfing