USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the bearish trendline down.
A continuation of the downtrend downwards to the next support line at 148.39700 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 150.23500 is also possible.
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 considered certain. Target of the current trend is 149.077 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 150.23500 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Matching Low’ candle chart pattern is detected. The chart forms ‘Matching Low’. which is a positive 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 | 148.84500 |
| Next Low | 148.39700 |
| 2nd Low | 148.23700 |
| 3rd Low | 148.00800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low