USD/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 153.8941 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 154.72000 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Black Crows’ candle pattern is discovered. The candles form ‘Three Black Crows’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 155.26200 |
| 2nd High | 155.02100 |
| Next High | 154.72000 |
| Current Price | 153.81000 |
| Next Low | 153.54600 |
| 2nd Low | 153.27500 |
| 3rd Low | 152.13800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows