USD/JPY – 1H – BUYCorrection of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Current target is 155.01 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance zone at 155.02100 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Three White Soldiers’ candlestick chart pattern is discovered. The candles form ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 156.74500 |
| 2nd High | 155.88500 |
| Next High | 155.02100 |
| Current Price | 154.29400 |
| Next Low | 153.90300 |
| 2nd Low | 153.27500 |
| 3rd Low | 152.13800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers