USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the descending trendline down.
A continuation of the downward movement down to the next support line at 148.39700 is likely expected.
Caution: A possible change in the direction of resistance at 150.23500 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 149.077 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support zone at 150.23500 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Matching Low’ candlestick pattern is existing. The candles show ‘Matching Low’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.94800 |
| 2nd High | 150.74700 |
| Next High | 150.23500 |
| Current Price | 148.81300 |
| Next Low | 148.39700 |
| 2nd Low | 148.23700 |
| 3rd Low | 148.00800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low