USD/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 153.546 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support line at 154.72000 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Black Crows’ candlestick pattern is discovered. The chart shows ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 155.26200 |
| 2nd High | 155.02100 |
| Next High | 154.72000 |
| Current Price | 153.72800 |
| Next Low | 153.62400 |
| 2nd Low | 153.54600 |
| 3rd Low | 153.27500 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows